2018 IRA Waiver
Due to confusion and lack of adequate guidance, my RMD of $99.25 for 2018 was not distributed at the end of 2018. However, by 2/22/ 2019 a check was issued for $99.25 (excluding tax) for RMD 2018 and it has been received. The source issuing the check will not be documenting the distribution on a 1099 for
2018. It will do so in 2019. Is the IRS Waiver Form 5329 recommended, so this info. of $99.25 RMD for 2018 is in the 2018 IRS filing, currently being compiled?
Permalink Submitted by Alan - IRA critic on Fri, 2019-03-01 20:31
Yes, a 5329 filed with the 2018 return requesting that the penalty be waived for “reasonable cause” should be approved by the IRS. Of course, the 2019 RMD must also be distributed by year end, and both will be reported on the same 2019 1099R and on your 2019 return.