Question

5329 & Select correct box

Forum|Forum|4 years ago
March 19, 2022
1 reply
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I mailed form 5329 to the IRS in Jan for an incorrect 2021 RMD. My question is how do I handle this in TT for this year? I have a choice of checking - I received ALL or Did NOT receive all the distribution. If I check off received all and finish my return will this cause a RED flag for the IRS because I filed a separate 5329 in Jan? If I check off DID NOT receive all will this cause problems because the IRS has a 5329 and TT generates a new 5329 or at least notifies the IRS there was a problem with the 2021 RMD? I plan on filing with e-File next month? I have not had any correspondence from the IRS as of today.

M

MAK70

Just to clarify- when you filed the Form 5329, did you make a payment or request a waiver? The interview questions in TurboTax is not necessarily what it reported to the IRS, they are designed to ask the questions needed to create the forms and information that you are required to the IRS. I just want to check what is the proper procedure since it is supposed to be filed WITH the tax return.

[Edited 3/20/22 I 2:45 pm PST]