Year following filing 5329 form

In 2023 I mistakenly did not take my RMD from my inherited IRA. I immediately withdrew the balance from the IRA and submitted a form 5329 on my 2023 tax return requesting a waiver.

Now it's the following year and I have an IRA distribution that includes the RMD from 2023 and 2024. Do I need to do anything different this year? Does Turbo Tax calculate the intended tax burden when the 5329 is submitted or am I paying the tax this year as it is reflected in my 1099-R?

I'm confused because on the form 5329, Part IX, line 53 is zero (with a reference to the waiver explanation) when mathematically there was a balance

638

Level 15

Apr 14, 2025 9:47:27 PM

There is nothing special to do.

HOWEVER

Due to TurboTax issues.
to avoid wrongful penalty, for each1099-R, tell TurboTax that the distributed amount is the calculated required amount.

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Year following filing 5329 form