Forgot to take Inherited IRA RMD for 2021

[fanfare]

@macuser_22 

We're chatting about an Inherited IRA here.

[macuser_22]

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@fanfare wrote:

@macuser_22 

We're chatting about an Inherited IRA here.

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That was the original question but this add-on user never said what type of IRA - only that they missed the RMD.  Pub 590B also addresses inherited IRA's but the calcification is different.

[Opus 17]

@unsureof1099s 

Form 5329 should show the required amount that you failed to withdraw in 2021, calculated according to the type of IRA you have.  For example, if you were required to withdraw $5000 in 2021, and you actually withdrew $9000 in January 2022, the shortfall is the $5000 that you were required to withdraw but failed to withdraw in 2021.  That’s how the penalty is calculated, and that’s what you will request as a waiver.