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New Member
posted Apr 8, 2021 3:48:01 PM

How do you avoid filing a waiver for a penalty on an RMD not taken when all RMDs were suspended

RMDs were suspended and no penalties assessed for not taking a RMD, so why do I need to ask for a waiver on form 5329.

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3 Replies
Level 15
Apr 8, 2021 3:53:31 PM

 

 

Delete the 1099-R you entered and re-enter.

Answer the RMD question that "None of this distribution was a RMD" or "RMD not required" depending on the TurboTax version - because it was NOT a RMD, there were no 2020 RMD's.

If this is an inherited IRA then answer the "Is this IRA inherited" with NO. The purpose of that question is to PREVENT rolling an inherited IRA over, but is allowed for 2020 only.

Then you will get the screen to say it was "moved" and all rolled over.

Also check the box that this was NOT a COVID related distributions - it was a RMD that was returned.

That will put the 1099-R box 1 amount on the 1040 form line 4a with the word ROLLOVER next to it.



New Member
Feb 21, 2023 5:42:04 PM

where can I find a 4852 form?

Expert Alumni
Feb 21, 2023 6:04:06 PM

What are you trying to do?  @erodriguez109 

 

You must take the following steps before filing Form 4852 - link to form.  

 

• Attempt to get your Form W-2, Form W-2c, or Form 1099-R (original or corrected) from your employer or payer before contacting the IRS or filing Form 4852. 

• If you don’t receive the missing or corrected form from your employer or payer by the end of February, you may call the IRS at 800-829-1040 for assistance.  You must provide your name, address (including ZIP code), phone number, social security number, and dates of employment.  You must also provide your employer’s or payer’s name, address (including ZIP code), and phone number.  The IRS will contact your employer or payer and request the missing form.  The IRS will also send you a Form 4852.  If you don’t receive the missing form in sufficient time to file your income tax return timely, you may use the Form 4852 that the IRS sent you to file with your return.