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Level 1

Question

2018 RMD taken in 2019

Forum|Forum|6 years ago
March 11, 2020
1 reply
0 views

I took the full 2018 Required RMD in March 2019 and TurboTax keeps putting this in as a 2019 RMD. How do I get around this problem?

Level 15

Neither TurboTax nor your tax return classifies an RMD as applying to any particular year. Your tax return simply reports distributions. Any RMD (or any other regular distribution) received in 2019 is taxable on your 2019 tax return, regardless of the year for which the RMD was taken.

If you somehow mistakenly reported this distribution on your 2018 tax return, amend your 2018 tax return to remove it.

Level 15

And hopefully you also took your 2019 RMD by Dec 31. So you might have two1099R unless they included both RMD on the same 1099R. Did the plan know it was for your 2018 RMD? They might think it was for 2019.

Level 2

Yes, the institution knew part was for 2018, but they said they are bound by law to report all 2019 distributions on 1099-R