What is the penalty for an IRA distribution that is $2 short?

posted

I believe you mean your minimum required distribution (MRD) is short by $2. Since the penalty for missing your RMD is based on the amount you are short, the penalty would be likely be minimal, $1 or less.

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I took an early Roth IRA withdrawal yesterday because I overcontributed in 2024. I haven't received my 1099-R yet. How do I file this, given the deadline is today?

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What is the penalty for an IRA distribution that is $2 short?

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