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WeirdMarilyn
Level 1
May 5, 2020
Question

Rmd not taken timely, where do I enter this information?

  • May 5, 2020
  • 3 replies
  • 29 views
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3 replies

IRonMaN
IRonMaN
Level 15
May 5, 2020

Use form 5329 to ask for forgiveness and then enter the distribution as normal in the year that it is actually taken.

Slava Ukraini!
    Just-Lisa-Now-
    Just-Lisa-Now-Intuit Community Champion
    Intuit Community Champion
    May 5, 2020

    Its way down at Part IX of Form 5329

    ♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
      abctax55
      abctax55
      Level 15
      May 5, 2020

      And do NOT pay the penalty.... it's much easier for someone at the IRS to just 'forgive' than it is to find someone to write the refund check.

      And in my experience, I've never seen a request denied.  Be sure to emphasize that the late distributions have been taken and the steps taken to make sure the oversight will NOT happen again.

      Good luck

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