How do I get a Waver form 5329?

[oled203463]

Dose turbo tax provide the form 5329?

[HelenC12]

TurboTax generates Form 5329 if you owe extra tax on a variety of situations, such as excess contributions to an HSA, early distributions from a retirement plan, failure to distribute Required Minimum Distributions, etc.

• TurboTax automatically attaches Form 5329 to your return.

[oled203463]

I have had several conversations, and no access to form5329 yet.  I am waiting for call from someone before 

pushing the file button, and I need to get this in there.

Thanks for asking. 

[DanaB27]

To verify, you did not take your RMD, didn't receive any Form 1099-R, and want to apply for a waiver of the 50% penalty?

If you haven't taken the RMD then take it as soon as possible.

You will need to file Form 5329 and request a waiver of the penalty if you have reasonable cause. Please see Relief for Reasonable Cause for additional information.

Unfortunately, this can only be done using the "forms" mode which is only available with the TurboTax Desktop software if you do not have a Form 1099-R to file:

1. Enter the forms mode and click on "Open Form" and type "5329".
2. 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).
3. Then in the box right under line 53 "Waver of Tax Smart Worksheet" enter the same amount as line 52 (the RMD amount). 
4. Click the "Explanation" button and enter the reason for missing the RMD and your statement requesting a waiver.

If using the TurboTax Online version and have no 2022 Form 1099-R to file, you will have to prepare the 5329 manually.

Download Form 5329 from the IRS website and fill it out the same as above. Print and mail your return with the 5329 form and explanation attached as described in the 5329 instructions.

The 2022 Form 5329 must be attached to your printed and mailed 2022 tax return and cannot be e-filed.

Please be aware that you can only use this method if you are requesting a waiver of the penalty and there is no taxable amount on Form 5329 form line 55 that must be transferred to Schedule 2 line 8.

@oled203463