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posted Apr 14, 2025 8:24:02 PM

2024 Part IV IRS Form 5329

The previous (2022) version of IRS form 5329 was straight forward. 

The 2024 version is different and confusing.  The instructions are not clear. 

Can someone clarify what specifically needs to be placed on lines 52a, 52b. 53a. 53b. 

I could not find a useful reference; a made up example would be  most helpful

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1 Replies
Expert Alumni
Apr 15, 2025 3:45:43 PM

To clarify, did you miss your RMD? If yes, did you take the RMD in the correction window?

 

If answer yes to both questions and you had a RMD of $10,000 that you missed:

  • Enter $10,000 on line 52a
  • Enter $0 on line 53a (if you took no distribution)
  • Leave 52b and 53b blank

 

If you didn't take the RMD during the correction window:

  • Enter $10,000 on line 52b
  • Enter $0 on line 53b (if you took no distribution)
  • Leave 52a and 53a blank

 

If you are older than 73 then you can file Form 5329 without having a Form 1099-R:

  1. Click on "Search" on the top right and type “1099-R”
  2. Click on “Jump to 1099-R”
  3. Continue until the "Did You Miss a Required Distribution From Any Retirement Accounts?" screen and select the type of account.
  4. TurboTax will walk you trough the questions and give you the option to fill out a waiver.