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jtillitson
New Member

I did not take all of 2016 RMD by 12/31/16. Can I file form 5329 with my 2016 return? Can TurboTax have all of the calculation done for my 2016 return?

 
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macuser_22
Level 15

I did not take all of 2016 RMD by 12/31/16. Can I file form 5329 with my 2016 return? Can TurboTax have all of the calculation done for my 2016 return?

Yes if you took part of the RMD and will receive a 1099-R.  When you enter the 1099-R you will be asked about the RMD.    Do not stop the interview at the 1099-R summary screen but continue and answer the additional questions.  When you indicate that you did not take the entire RMD you will get additional questions that will go on the 5329 form.

There is an explanation statement where you can explain the reason for missing taking all of the RMD and the shortfall has been make up (it has hasn't it - if not take the remainder ASAP).

Note: that you cannot fill out the 5329 form in TurboTax if you do not have a 1099-R to enter. 

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

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2 Replies
macuser_22
Level 15

I did not take all of 2016 RMD by 12/31/16. Can I file form 5329 with my 2016 return? Can TurboTax have all of the calculation done for my 2016 return?

Yes if you took part of the RMD and will receive a 1099-R.  When you enter the 1099-R you will be asked about the RMD.    Do not stop the interview at the 1099-R summary screen but continue and answer the additional questions.  When you indicate that you did not take the entire RMD you will get additional questions that will go on the 5329 form.

There is an explanation statement where you can explain the reason for missing taking all of the RMD and the shortfall has been make up (it has hasn't it - if not take the remainder ASAP).

Note: that you cannot fill out the 5329 form in TurboTax if you do not have a 1099-R to enter. 

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
jtillitson
New Member

I did not take all of 2016 RMD by 12/31/16. Can I file form 5329 with my 2016 return? Can TurboTax have all of the calculation done for my 2016 return?

Thank you ever so much.....
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