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Geno73
Returning Member

RMD 1099-R

Required to take a 2024 RMD. Took it legally in January, 2025.  Schwab says I will not get a 1099 until end of 2025!  I know amount that I am required to report! Did someone get a 1099-R from Charles Schwab for 2024 and can they tell me the payor address, ZIP and Payor's Federal ID number.  Schwab unhelpful yet info is not sensitive!

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last updated ‎February 17, 2025 2:40 PM
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rjs
Level 15
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

RMD 1099-R

If you received the money in 2025 you will report it on your 2025 tax return. You do not report it on your 2024 tax return, even it was your RMD for 2024. You report income in the year that you receive it.


You will have to take your 2025 RMD in 2025. Your 1099-R for 2025 will include both the 2024 and 2025 RMDs. You have to report the full amount of both RMDs on your 2025 tax return.

 

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rjs
Level 15
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

RMD 1099-R

If you received the money in 2025 you will report it on your 2025 tax return. You do not report it on your 2024 tax return, even it was your RMD for 2024. You report income in the year that you receive it.


You will have to take your 2025 RMD in 2025. Your 1099-R for 2025 will include both the 2024 and 2025 RMDs. You have to report the full amount of both RMDs on your 2025 tax return.

 

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