topic Re: Form 5329 in Get your taxes done using TurboTax

Form 5329

LazyDavy — Wed, 19 Mar 2025 15:14:37 GMT

What else do I fill out on Form 1040 since RMD was missed and I am filing 5329?

Re: Form 5329

MaryK4 — Wed, 19 Mar 2025 15:41:07 GMT

That is all, TurboTax will calculate your penalty and include the form with your return.

Re: Form 5329

LazyDavy — Wed, 19 Mar 2025 17:02:49 GMT

Does the income then appear on 1040 Sch 2? It seems I would need a 1099R substitute to report the income and calculate tax as if the RMD had been made.

Re: Form 5329

ThomasM125 — Wed, 19 Mar 2025 17:19:35 GMT

No, you report the distribution in the next year, when you receive it. You receive a penalty for missing it in the current year, but request abatement of the penalty on Form 5329.