Trust missed RMD
The RMD was payable to a trust that is a grantor trust for Fed tax purposes. I am I correct in thinking that the 5329 is be filed by the individual (grantor) and not by the trust? Thanks in advance
The RMD was payable to a trust that is a grantor trust for Fed tax purposes. I am I correct in thinking that the 5329 is be filed by the individual (grantor) and not by the trust? Thanks in advance
Permalink Submitted by Alan - IRA critic on Wed, 2022-03-16 15:09
The 5329 should be filed on the same return as the rmd is reported. I assume this trust inherited the IRA, but is it now still revocable, making the trust beneficiary non qualified for look through?