Proof of an RMD
This is my first year taking an RMD — I consolidated from various institutions (with waivers) so the RMD would come from one source, not several.
My question is this, when I go to file my 1040 in 2018, do I need any proof that I took an RMD in 2017 and what do I need as proof?
Permalink Submitted by Alan - IRA critic on Tue, 2017-09-12 00:00
If you are referring to IRA accounts, RMDs can be aggregated which means that you can complete the RMDs for all your IRAs by taking the combined total from just one of the accounts, so you did not have to combine them to take the RMD from one source account. However, quite likely the combination will simplify things for you in several respects. When you file your 2017 return, the 1099R you receive in January is sufficient proof that you took an RMD up to the amount of the 1099R. Therefore, all you have to do is report the distribution on lines 15a and 15b of Form 1040. Not sure what you meant with respect to waivers, but hopefully you consolidated by direct non reportable transfers, since you can now do only ONE 60 day rollover per 12 month period for all your IRA accounts combined.
Permalink Submitted by Alan Borack on Tue, 2017-09-12 11:59
Thank you for the response. The waivers I mentioned were because several banks had me sign a statement that I would not be taking my RMD from them but from another source. It is good to know that I will receive a 1099r in January about the 2017 RMD. Now I dont have to go looking around for any paperwork I received from the distributions.