Late RMD

I have a client who missed their 2007 RMD. I know to tell them to take it as soon as possible but should they go ahead and include it on their 2007 tax return even though they won’t get a 1099 for the distribution until next year?



It would have to be taxed this year.

However, the 5329 and request to excuse the penalty should be attached to the 2007 return. See Inst for 5329, p 6, “Waiver of tax”.

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