Below the ==== line was asked earlier but never got a complete answer. The open part of the answer was "I just want to check what is the proper procedure since it is supposed to be filed WITH the tax return." I didn't know 5329 should have been filed with the 2021 return. I asked about getting a corrected 1099r but that's impossible since I took corrected payout in 2022. So when I received the corrected RMD check I mailed the 5329 with the explanation and asked for a wavier. Still would like to know which box to check?
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I mailed form 5329 to the IRS in Jan for an incorrect 2021 RMD & asked for a wavier. My question is how do I handle this in TT for this year? I have a choice of checking - I received ALL or Did NOT receive all the distribution. If I check off received all and finish my return will this cause a RED flag for the IRS because I filed a separate 5329 in Jan? If I check off DID NOT receive all will this cause problems because the IRS has a 5329 and TT generates a new 5329 or at least notifies the IRS there was a problem with the 2021 RMD? I plan on filing with e-File next month? I have not had any correspondence from the IRS as of today.
If you received the 2021 RMD in 2022 then you did NOT take your 2021 RMD so you need to send the 2021 5329 for requesting a waiver WITH your 2021 tax return (or amended 2021 tax return). If you already mailed a stand alone 2021 5329 then you also include is as PART of your 2021 tax return as required.
I e-filed my return today, but have another question that you might be able to answer. Has to do with my 2022 1099-R. Here is a hypothetical.
My 2021 RMD was $12,000 but I was short $2000 so my 2021 1099-R showed $10,000. In Jan 2022 I took a withdrawal of $2000 and filed a 5329. My 2022 RMD is $12,000 and I am taking $1,000/mt. to reach the 2022 RMD of $12,000. I have a $2,000 withdrawal showing in my account but it doesn't say it was for 2021.
How much do I withdraw in 2022 for a correct 1099-R? Since my Jan IRA statement shows $2,000 + $1,000 , over the coming months do I withdraw an additional $9,000 for a total of $12,000 or $12,000 for a total of $14,000? I don't want to withdraw any more than I have too.