Form 5329 Needed but Not Available in TurboTax Business Desktop

Forum|Forum|1 year ago
March 11, 2025
1 reply
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I failed to take the 2024 RMD for an IRA held by a Trust. How an individual taxpayer should handle this is explained in this thread:

https://ttlc.intuit.com/community/retirement/discussion/i-missed-taking-out-2024-rmd-distribution-what-is-the-remedy/00/3414928

There it says form 5329 must be filed and in TurboTax Deluxe desktop this is possible by adding the form manually in Form view. When I try this in TurboTax business, form 5329 does not show as an option. Any work-arounds?

TurboTax Business Windows

AmyC

Employee

I am going to assume you mean home and business for individual taxes. Let me show you the steps:

Switch to forms mode
Select Open Form
Type in 5329 enter
Then the federal will show the 5329 for Taxpayer (and Spouse, if on return)
Select / highlight the one you need
Select Open Form
Scroll down to Part IX
Fill it in
Scroll down to waiver request box
Enter amount to waive
Select explain box
Request waiver of amount and explain corrective action taken and reason for issue.

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hpeterg

Thank you for the guidance. However, why would this NOT be 52b or 53a?

PatriciaV

Employee

In the text of the Explanation Statement, you can refer to the line where the missing RMD amount appears. The QuickZoom link pre-fills the header of the statement for you (Line 54b).

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