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New Member
posted Mar 30, 2023 7:05:28 PM

Do I need to enter a 2022 IRA Fair Market Value and 2023 Required Minimum Distribution Statement on my taxes?

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2 Replies
Expert Alumni
Mar 30, 2023 7:34:38 PM

Can you clarify if you received a Form 1099-R for a Required Minimum Distribution.

 

Level 10
Mar 30, 2023 7:36:35 PM

For 2023, you enter the value of your IRA on 12/31/2022 and take your 2023 RMD sometime in 2023, These will be reported on your 2023 taxes next year, not on your 2022 taxes. Your 2022 RMD will be reported on your 2022 taxes based on your RMD value on 12/3/2021.