Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Apr 3, 2025 11:58:16 AM

Can I get a waiver for missing reporting a RMD on my taxes?

I received a form 5498 stating the RMD due on my 2024 taxes was $4791 but the withdrawal was never made. So what do I need to do to get a waiver so my penalty would only be 10%?

0 1 260
1 Replies
Expert Alumni
Apr 15, 2025 7:27:34 AM

if you missed an RMD, TurboTax will help you with filing the waiver. As you report your 1099R there'll be a series of questions asking about RMD's. 

 

  1.  First question asks what the RMD requirement was for 12/31/2024.  You would list the amount that you were required to withdraw.
  2. Next question you will say none of the distribution was applied to the RMD.
  3. Next question asks if you took out the remaining distribution, say no.
  4. Now just continue through the screens. until you get to a screen that mentions requesting the waiver.
  5. Next screen will allow you to enter information that may reduce the penalty.  This is what the screen looks like.