Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- ProSeries Tax
- :
- ProSeries Tax Discussions
- :
- Re: Failure to take RMD
Failure to take RMD
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
Mike12321
Level 4
06-03-2023
06:01 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
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?
Labels
1 Comment 1
Skylane
Level 11
06-03-2023
10:39 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
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.
If at first you don’t succeed…..find a workaround
