You report the RMD on your tax return for the year that you took it, even if it was a late RMD for the previous year. You will get a 1099-R for 2022, and you will enter that in your 2022 tax return. You still have to take your 2022 RMD before the end of 2022, so you will have the RMDs for two years on your 2022 tax return. Your 1099-R for 2022 will include both RMDs.
Is this your first RMD? Did you just turn 72 in 2021? If so, your RMD was not late because you took it before April 1, 2022. In that case there is no penalty.
If you turned 70½ in 2019 or earlier, the distribution is actually late. In that case, you do have to file Form 5329 with your 2021 tax return. Form 5329 calculates the 50% penalty for not taking the RMD on time, but you can request a waiver of the penalty. You will almost certainly get the waiver if taking the RMD late "was due to reasonable error and you are taking reasonable steps to remedy the shortfall." Taking the RMD in February was a reasonable step to remedy the error. To request a waiver you include Form 5329 and an explanation statement with your 2021 tax return.
If you have any Form 1099-R for 2021, after you enter all your 1099-Rs and proceed through the interview, you will come to a screen that asks you if you received all the RMD that you were required to take for 2021. If you answer that you did not, it will lead you through requesting the waiver and entering an explanation. In the explanation, in addition to a brief of explanation of why it was late, be sure to say that you took the distribution in February.
Unfortunately, there is a defect in the TurboTax interview that makes it impossible to fill out Form 5329 in TurboTax Online if you did not receive any 1099-R for 2021. The only way to do it is in forms mode, which is not available in TurboTax Online. That means you will have to use the CD/Download TurboTax software instead of TurboTax Online to file your 2021 tax return.
