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sassydobe
New Member

Didn't take RMD for 2018 tried to find form5329 to maybe get exception as I took it and 2019 on Jan 4 of 2019 how do I file this with taxes if not in list.

need to file 5329 as NO RMD was taken n 2018

1 Reply
Coleen3
Intuit Alumni

Didn't take RMD for 2018 tried to find form5329 to maybe get exception as I took it and 2019 on Jan 4 of 2019 how do I file this with taxes if not in list.

If you are using the CD/download version:

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 waiver. If it was withdrawn in 2019 it will be reported on your 2019 Tax Return.  However, you may need to file Form 5329 with your 2018 Tax Return to request a waiver of the penalty. The waiver would only be denied if there is no reasonable explanation and the missed RMD was not taken at all.)

If you do have a 2018 1099-R to report then the RMD question in the interview will go to the form 5329 waiver interview if you say that the 2018 RMD was not taken.

From 5329 instructions:

"Waiver of tax.   The IRS can waive part or all of this tax if you can show that any shortfall in the amount of distributions was due to reasonable error and you are taking reasonable steps to remedy the shortfall. If you believe you qualify for this relief, attach a statement of explanation and file Form 5329 as follows. 

1. Complete lines 52 and 53 as instructed.

2. Enter “RC” and the amount you want waived in parentheses on the dotted line next to line 54. Subtract this amount from the total shortfall you figured without regard to the waiver, and enter the result on line 54. 

3. Complete line 55 as instructed. You must pay any tax due that is reported on line 55.

  The IRS will review the information you provide and decide whether to grant your request for a waiver.


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