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 Jun 3, 2019 12:26:59 PM

How do I fill out form 5329 for missing RMD in 2016 but then took it and 2017 RMD in 02/2017?

Sorry, failed to mention this is for an inherited IRA. I'm guessing IRS sees the whole total for 2016 RMD and 2017 RMD I took in 02/2017 as a 2017 distribution. Am I correct? If yes, then filling out form 5329 seems straight forward - lines 52-55 - and done.

0 1 1080
1 Replies
Level 15
Jun 3, 2019 12:27:00 PM

 you must fill out Form 5329 for 2016 to show what did (not) happen. There is a penalty tax imposed for this.

You may on the form request the IRS to waive part or all of that tax. attach a statement explaining your "reasonable cause" for missing that RMD.

Note: as of this writing Turbotax makes this difficult without a 1099-R to work with. you'd have to invent one, or prepare the form 5329 yourself.