Just got a check for RMD from my 401k. The check is dated Mar 13, 2017. I turned 70 1/2 in 2016. Fidelity did not issue me a 1099 for 2016 tax year. They DID take tax

Which years' taxes does the amount go on?

Best answer by fanfare

You have taken your first RMD for 2016 , the year you turned 70 1/2 as required.

You're OK since you get a grace period for the first RMD (Apr 1, 2017).

You will also have to take your RMD for 2017 (age 71 1/2) before the deadline which is 12/31/2017.

Since you're using the grace period you have to take two RMDs for 70 1/2 and 71 1/2 in the same year.

To answer your question, it all goes on your 2017 tax return.

Level 15

You have taken your first RMD for 2016 , the year you turned 70 1/2 as required.

You're OK since you get a grace period for the first RMD (Apr 1, 2017).

You will also have to take your RMD for 2017 (age 71 1/2) before the deadline which is 12/31/2017.

Since you're using the grace period you have to take two RMDs for 70 1/2 and 71 1/2 in the same year.

To answer your question, it all goes on your 2017 tax return.

1 reply