Solved: I received an IRA Fair market Value and 2017 Required Minimum Statement, where does this go?
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nikki-winkley
New Member

I received an IRA Fair market Value and 2017 Required Minimum Statement, where does this go?

 
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fanfare
Level 15

I received an IRA Fair market Value and 2017 Required Minimum Statement, where does this go?

Unless your IRA has a basis, neither of those amounts goes on your tax return.
You have to take your  RMD, or more, by Dec 31.

Then you will get a 1099-R showing your chosen amount at the beginning of the year.

View solution in original post

1 Reply
fanfare
Level 15

I received an IRA Fair market Value and 2017 Required Minimum Statement, where does this go?

Unless your IRA has a basis, neither of those amounts goes on your tax return.
You have to take your  RMD, or more, by Dec 31.

Then you will get a 1099-R showing your chosen amount at the beginning of the year.

View solution in original post

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