Client rolled 401(k) to an IRA but failed to direct taking the 2022 RMD.
Has taken a little more than the required RMD for 2023.
Can they use some of the excess to offset the makeup of the 2022 RMD in 2023?
Nope,
For 2022, Complete f5329 part IX. Enter a reasonable explanation for IRS to waive the penalty…
in tax year 2023 take the full RMD amount required for 2022 and 2023.
