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alan0937
New Member

We failed to withdraw my wife's 2018 RMD in 2018. By 2/2/19, we withdrew the RMD and setup automatic withdrawals for the future. Do I owe money now?

If I ask forgiveness for the entire RMD, Form 5329 shows no tax. Is this correct?
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3 Replies

We failed to withdraw my wife's 2018 RMD in 2018. By 2/2/19, we withdrew the RMD and setup automatic withdrawals for the future. Do I owe money now?

what did you do to get Form 5329 on your tax return ?
WillK
Intuit Alumni

We failed to withdraw my wife's 2018 RMD in 2018. By 2/2/19, we withdrew the RMD and setup automatic withdrawals for the future. Do I owe money now?

Yes that can be correct. The IRS needs to approve it, but if you do not get a letter from the IRS explaining that they denied it, you are all set. 

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We failed to withdraw my wife's 2018 RMD in 2018. By 2/2/19, we withdrew the RMD and setup automatic withdrawals for the future. Do I owe money now?

Form 5329 shows the amount of any penalty tax
you are asking for a waiver of the entire penalty.
Since you took the RMD in 2019, it will be taxable on your 2019 tax return
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