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April 11, 2025
Question

'Required RMD'

  • April 11, 2025
  • 1 reply
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In the 'Excess Accumulation Worksheet', TT-2024 asks for "Required RMD amount".  RMD for which year -- 2024 or 2025?

    1 reply

    April 11, 2025

    the year you are working on, which would be the RMD for 2024 that you failed to take in 2024.

     

    however see this thread about ways you may be able to avoid the penalty

    https://accountinginsights.org/rmd-penalty-waiver-letter-sample-how-to-request-relief-for-late-distributions/