You'll need to sign in or create an account to connect with an expert.
You have a 2024 distribution.
You have to give your custodian enough time to get the money withdrawn by Dec 31,
i.e., live and learn. Never wait until the last minute to take an RMD.
If it was your first required RMD...i.e. you turned 73 in 2023, then it's OK to have it taken in 2024, but you will have to take your actual 2024 RMD before the end of 2024, and will have two RMDs adding to your AGI for 2024.
2023 was not the first year that you were required to take an RMD you must complete Form 5329 Part IX requesting a waiver of the excess accumulation penalty now that the RMD has been completed, albeit late.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
FitWit
Level 2
mocashnow
New Member
PennyLane1
Level 2
COFFEE3
New Member
Tiborone
Level 2
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.