IRA 1099-R Question

Forum|Forum|4 years ago
March 23, 2022
2 replies
18 views

I received a 1099-R for a traditional IRA account for 2021. I had also received a letter from the same investment company noting that I had not cashed an RMD check they had sent for this IRA. I called the IRA company and apparently the check was either lost or never received somehow, but the IRA company rep indicated that the funds had been removed from the IRA account in 2021 and sent to their bank to cover the issued check. They will be resending the check in 2022 (not yet received).

I assume that I should include the amount listed on the 2021 1099-R for this account on my 2021 tax return rather than my 2022 tax return even though the check covering the RMD will not be received until 2022 since the funds were actually removed from my IRA account in 2021. Is this the correct approach?

Thanks for your help!

Tax Advice

Best answer by MinhT1

Yes. You are correct.

As the RMD was sent and the funds removed from your IRA in 2021, you will report the 1099-R in your2021 tax return and consider that your RMD is satisfied.

MinhT1Answer

Level 15

Yes. You are correct.

As the RMD was sent and the funds removed from your IRA in 2021, you will report the 1099-R in your2021 tax return and consider that your RMD is satisfied.

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