Form 5329 Question

[srgould41]

Hi,

I am looking through the forms that will be included with my return in Print Center. I am married filing jointly. The instructions for form 5329 say that I need to include one for myself and one for my wife. I had a Roth contribution in 2021 that had to be pulled back along with the earnings. The Roth is in my name and my wife doesn't have one. When I look in the Forms in TurboTax it does show one for each of us, but when I look in the Print Center I only see one with my info on it. 

Should both 5329's be included?

Thanks

[AliciaP1 · Accepted solution]

No, there should only be the Form 5329 for you.  Since there's nothing to report the form is not required and therefore does not show up to be printed.

[cherylgrimes1]

@AliciaP1 I have a similar situation, but I am the non wage earning spouse, and it shows a 5329-S for me, but not for my husband. There is no penalty showing. I decided to contribute to an IRA now to save on our taxes due this year. We both started our first traditional IRA. Only mine generated a 5329 form. 

My situation is that my mom passed in September. I took a lump sum distribution instead of rolling her IRA into one then. I wrote that part of that was an RMD (but maybe I am mistaken)? We took a distribution out separately that was her RMD for the year. Would that have affected this? 

It also asked for the value of my traditional IRAs on Dec 31, 2021, (even if I am contributing to them now for 21). Previously I had said 0, but just changed it to $3000 which is what I am opening up an account with. Should it be 0?