Solved: My 2016 RMD was not withdrawn until Jan 31, 2017, due to my EquiTrust agent's fault. Do I claim it in 2016 or 2018? and where?
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My 2016 RMD was not withdrawn until Jan 31, 2017, due to my EquiTrust agent's fault. Do I claim it in 2016 or 2018? and where?

 
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Level 15

My 2016 RMD was not withdrawn until Jan 31, 2017, due to my EquiTrust agent's fault. Do I claim it in 2016 or 2018? and where?

You will report this as a missed RMD on your 2016 return.

You must attach Form 5329 which will show a penalty tax and your request to waive that.

Your explanation sounds reasonable and the IRS will not charge you the penalty.

You must attach the explanation to your tax return.

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2 Replies
Level 15

My 2016 RMD was not withdrawn until Jan 31, 2017, due to my EquiTrust agent's fault. Do I claim it in 2016 or 2018? and where?

You will report this as a missed RMD on your 2016 return.

You must attach Form 5329 which will show a penalty tax and your request to waive that.

Your explanation sounds reasonable and the IRS will not charge you the penalty.

You must attach the explanation to your tax return.

View solution in original post

Level 15

My 2016 RMD was not withdrawn until Jan 31, 2017, due to my EquiTrust agent's fault. Do I claim it in 2016 or 2018? and where?

See also the answer here and discussion.
Others have suggested it's safer and easier to fill out the Form 5329 manually and send in a paper return.

<a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/replies/5669537">https://ttlc.intuit.com/replies/5669537</a>
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