I withdrew my RMD for 2018 in February of 2019 by mistake. Can I report this RMD as 2018 income and thus pay taxes on it but also report the RMD as a late withdrawal?

[laguew]

I would like to pay the tax due on the RMD in a timely fashion and am trying to delay payment until I file tax net year.  

[SweetieJean]

Was 2018 your first RMD?

[macuser_22]

No.  You can only report the 2019 distribution on your 2019 tax return next year.    You also must take the 2019 RMD before the end of 2019 and both amounts will be on the 2019 1099-R.

As for 2018, depending on the answer to SweetieJean's question, you either need to attach a 5329 form to your 2018 tax return requesting a waiver of the penalty (that is almost always granted) if this was NOT your first RMD, or if you turned 70 1/2 in 2018 then you had until today (Apr 1, 2019) to take the first RMD without penalty.

[Bsch4477]

Deleted 

[linsker]

Related question: I didn't take my RMD for 2018 until Sept. 2019. (I am 73.) I already filed my 1040 for 2018 in early 2019.  Do I now file a form 5329 for the year 2018? And do I mail it to the IRS alone, or should I attach it to my 1040 for the year 2019?

[macuser_22]

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@linsker wrote:

Related question: I didn't take my RMD for 2018 until Sept. 2019. (I am 73.) I already filed my 1040 for 2018 in early 2019.  Do I now file a form 5329 for the year 2018? And do I mail it to the IRS alone, or should I attach it to my 1040 for the year 2019?

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You will need to file a 5329 form and request a waiver of the penalty. (The waiver would only be denied if there is no reasonable explanation and the missed RMD was not taken at all.)

You will have to prepare the 5329 manually .

From 5329 instructions:
Quote:
"Waiver of tax. The IRS can waive part or all of this tax if you can show that any shortfall in the amount of distributions was due to reasonable error and you are taking reasonable steps to remedy the shortfall. If you believe you qualify for this relief, attach a statement of explanation and file Form 5329 as follows.
1. Complete lines 52 and 53 as instructed.
2. Enter “RC” and the amount you want waived in parentheses on the dotted line next to line 54. Subtract this amount from the total shortfall you figured without regard to the waiver, and enter the result on line 54.
3. Complete line 55 as instructed. You must pay any tax due that is reported on line 55.
The IRS will review the information you provide and decide whether to grant your request for a waiver. "

Download the 5329 form from the IRS website and fill it out.

You can file the 5329 by itself if you have no other reason to amend.

Download blank 2018 5329 form here:
Form: http://www.irs.gov/pub/irs-pdf/f5329.pdf
Instructions: http://www.irs.gov/pub/irs-pdf/i5329.pdf

[rjs]

@linsker  The links that macuser_22 gave you will give you the 2019 form and instructions. For the 2018 form and instructions use the links in my reply to the new separate question that you posted.