Missed RMD for 2018

Submitted by Neda Lozo on Fri, 2020-01-31 20:27

RMD was missed on 2018 and was distributed Jan 9 2019. I received only 1 1099-R for the distribution for 2018 and 2019. How should I handle reporting this on my 2019 Taxes? Do I need to send a 5329 for 2018 with an excuse letter and report 2018 distribution on 2019 Taxes? Do I need to do an amended return for 2018 if there were no other mistakes made?



Submitted by Alan - IRA critic on Fri, 2020-01-31 20:38

What was the amount of your 2018 RMD, 2019 RMD and the amount of your Jan, 2019 distribution?

Submitted by Neda Lozo on Mon, 2020-02-03 02:44

rmd taken in january of 2019 was 1670$  for 2018, in November 2019  $1800 for 2019. both distribution is on 1099R  reported as gross distribution (one amount) Thank you

Submitted by Alan - IRA critic on Mon, 2020-02-03 03:48

  • For your 2019 tax return, simply report the 1099R amount as income on lines 4a and 4b of Form 1040. 
  • Your 2018 RMD was late, but now that you have had it distributed, file a 2018 Form 5329, and request that the penalty be waived. You do not need a great excuse, just that you forgot and took it a couple weeks after the year ended will due. You can mail the 5329 by itself to the IRS location that serves your state. 
  • Enter the following on that 5329:  Name, address, SSN.    Line 52   1670; LIne 53  0; Line 54  dotted line “RC 1670” and enter 0 on line 54;  Line 55  0.  Sign form and mail.

Submitted by Neda Lozo on Mon, 2020-02-03 16:37

Thank You  very much, this is what i thought, but person from Irs was telling me to amended 2018 my tax return, no any add mistake was not made, i am really apriciate your time

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