Required ira withdrawal done 2 days late due to brokerage delay... how do I report

Morse — Mon, 03 Jun 2019 17:34:30 GMT

@Morse - you will have to do the outlined procedure manua...

KittyM — Mon, 03 Jun 2019 17:34:31 GMT

@Morse - you will have to do the outlined procedure manually and attach it to your mailed return. It cannot be done with an e-filed return.

If it was in/for the correct year (i.e. in 2018 for 20018...

KittyM — Mon, 03 Jun 2019 17:34:32 GMT

If it was in/for the correct year (i.e. in 2018 for 20018), you should be safe.

If you feel that you missed the deadline due to a reasonable cause, you may ask the IRS to waive the 50% excise tax. The request for waiver may be included in a letter of explanation, which you attach to your tax return (Form 1040) along with your Form 5329. When requesting a waiver, do not pay the excess accumulation penalty up front.

Most important: Complete Part VIII of the Form 5329

On line 50, enter the amount of the required minimum distributions that were supposed to have been taken during that particular year.
On line 51, enter the total of distributions actually taken during the applicable year.
On line 52, enter "zero," and write "RC" in the margin. Do not enter the amount of the shortfall - even though it appears that you should enter on this line the amount you failed to take, you are supposed to put zero on this line if you are requesting a waiver of the penalty. If you put any dollar amount on this line, the IRS computers will automatically assess the penalty.
On line 53 (amount of penalty), enter zero.
Attach a statement to the Form 5329 indicating the reasonable cause and also verifying that you have remedied the shortfall and attach a photocopy of your distribution check, if possible.

If the IRS does not honor your waiver request, you will be notified.

topic Required ira withdrawal done 2 days late due to brokerage delay... how do I report in Retirement tax questions

Required ira withdrawal done 2 days late due to brokerage delay... how do I report

@Morse - you will have to do the outlined procedure manua...

If it was in/for the correct year (i.e. in 2018 for 20018...