Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Level 1
posted Mar 11, 2022 2:02:42 PM

Missing 5329 for my spouse

We file jointly. I missed to take out RMD for 2021.  After withdrawing the RMD, and after completing the Turbotax I noticed there is only one copy of 5329-T (for me). I understand even though we are filing 1040 jointly, 5329 should be filed seperately. How do I go about to take care of this problem. Thanks.

0 4 842
4 Replies
Employee Tax Expert
Mar 11, 2022 3:07:05 PM

Did your spouse miss filing her/his RMD? If not, your spouse doesn't need a 5329.

 

IRAs (the usual thing that needs an RMD) are owned by the individual, not the couple. Thus any penalties arising from the IRA belong to the individual, even if the net result ends up on a joint return.

 

From what you've said so far, you don't have a problem.

Level 1
Mar 14, 2022 6:54:10 AM

My wife has an ira account and does need another 5329 to file as required by irs.

Employee Tax Expert
Mar 14, 2022 1:43:36 PM

When you entered the form 5329 in TurboTax, you should have been given the opportunity to complete a separate form for each of you. I am assuming you used the Forms Mode in the download/desktop version of TurboTax. Can you clarify how you prepared the form 5329?

Level 1
Mar 18, 2022 9:33:22 AM

Normally, I use step by step. I  found  5329 in form mode. Fill out additional 5329 for my spouse. Thanks.