I missed RMD in 2024 due to automated error at financial firm and issues with mail forwarding/deliveries in major move to new construction. I took the distribution as soon as realized - 2/5/25 and understand I'll receive that 1099-R in 2026. When working with TurboTax it said to delay my filing in 2024 since RMD situations like mine are being updated in the software. I did complete the form 5329 in the version I have now I think correctly. Does anyone have step by step instructions for completing form 5329 in the interim and do I note anywhere in the software that you know of where to note I did not receive the RMD or is just form 5329 required? Thanks for your help.
If the Form 5329 is included in your tax summary with the correct amount of the RMD, you can file your tax return without waiting for the update. (The penalty should be 25% of the RMD or 10% if you indicated you received the distribution during the correction window) You may also want to request the abatement in TurboTax, since you did have a reasonable cause (personally I would not hesitate to ask) and you took the distribution immediately.