My husband died in 2017. His IRA was transferred t...
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thelastlion
New Member

My husband died in 2017. His IRA was transferred to me, his spouse, in 2018. We are both over 70 1/2 and subject to RMD. Do I have pay taxes on the RMD in 2018?

 
2 Replies
pattif12
Expert Alumni

My husband died in 2017. His IRA was transferred to me, his spouse, in 2018. We are both over 70 1/2 and subject to RMD. Do I have pay taxes on the RMD in 2018?

If the RMD from the IRA that was transferred to you in 2018 was not taken, you are subject to a 50% penalty. You are able to ask for the penalty to be waived. The penalty can be waived due to a reasonable error . Explain the reason that it was missed and add the fact that you have remedied this by taking out the RMD. Include a copy showing that the 2018 RMD was withdrawn along with your explanation of why the RMD was not taken.

Waive Penalty for RMD

The Form 5329 from 2018 must be used. Follow the instructions for Lines 52,53 and 54 to request that the penalty be waived.

Instructions Form 5329 for 2018

Form 5329 for 2018

fanfare
Level 15

My husband died in 2017. His IRA was transferred to me, his spouse, in 2018. We are both over 70 1/2 and subject to RMD. Do I have pay taxes on the RMD in 2018?

You have to take the 2017 RMD for your husband if he failed to do that.

Unless he was not over 70 1/2 in that year.

All the distributions will be taxable.

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