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littlek49
New Member

IRS form 5329 during withdrawal of excess contribution from traditional IRA

my spouse took out more than the RMD in 2019.  Do we need Form 5329 and if so where do I get the information to enter onto the form?

IRS form 5329 during withdrawal of excess contribution from traditional IRA


@littlek49 wrote:

my spouse took out more than the RMD in 2019.  Do we need Form 5329 and if so where do I get the information to enter onto the form?


No.   The penalty is of you took *less* than the RMD.   You can always take more than the RMD including the entire value of the IRA.

 

And the topic of this thread is about excess contributions that has nothing to do with a RMD.

**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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