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New Member
posted Jan 28, 2023 11:43:17 AM

I did not take required minimum distributions on an non-spousal inherited IRA since 2017. Can TurboTax Live help me with this?

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2 Replies
Level 15
Jan 28, 2023 1:54:12 PM

you have to calculate the individual RMDs for all those years and take the total in 2023 if you did not already do that.

If you have a good explanation (reasonable cause) for the delay , IRS may waive your late penalties. they usually do.

Level 15
Jan 28, 2023 2:00:18 PM

once you take out the total, you can report on your 2022 tax return that you took timely action in early 2023 and request the waiver of penalty.

@robin-lougee