E-filing 5329 for Missed RMD Distribution

Forum|Forum|2 years ago
January 22, 2024
1 reply
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I have read all the posts related to this topic. I have found 5329 in Forms Mode and filled it out with the statement for the waiver. Do Not File is printed in red at the top of the form. I can see it in my list of forms, but it says Not Done next to it. Will it really be included when I e-file? My husband will not receive a 1099-R for 2023, because his distribution was not processed until January 2, 2024.

Bsch4477

Level 15

https://ttlc.intuit.com/community/retirement/discussion/how-do-i-file-a-form-5329/00/1181739/page/3

carolntimAuthor

Level 3

This reply did not answer my question. Am I going to have to mail in our entire return, because we need to include the 5329? I understand that if I was using the web version, I would have to do this, but I am using the desktop version.

Bsch4477

Level 15

For desktop version: You can efile.

Enter the forms mode and click on open form. Type in 5329. Choose 5329-T for the taxpayer (first person listed on your tax return), or 5329-S (for spouse - 2nd person on tax return).

Scroll down to Part IX line 52 and enter the RMD amount that should have been taken. On line 53 enter the amount of the RMD that was actually taken (probably zero if it was missed).

Then in the box right under line 53 "Waver of Tax Smart Worksheet" enter the same amount as line 52 (the RMD amount). Then click the "Explanation" button and enter the reason for missing the RMD and your statement requesting a waver.

You will not pay any penalty now until the IRS determines if it will grant the waver, then they will inform you if you owe the penalty.