In January, 2024, I realized my plan administrator missed making automatic RMD distributions in 2023. I immediately requested the distribution. On Form 5329 I am requested a waiver of the penalty. Do I need to fill out Line 55? If so, does the tax get included in total taxes due and if waiver is granted, I get a refund?
You'll need to sign in or create an account to connect with an expert.
No, you don't include the tax on line 55 of Form 5329 or on your return. If your waiver request is denied, the IRS will send you a notice of tax due, which is unlikely to happen.
No, you don't include the tax on line 55 of Form 5329 or on your return. If your waiver request is denied, the IRS will send you a notice of tax due, which is unlikely to happen.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
candiceandcarrie
New Member
bb1782
New Member
7d6704b651fc
New Member
bcasali
Level 2
jamerson herr
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.