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February 2, 2023
Question

Do I need to report an RMD if it wasn't received in the mail? Broker resending but 1099-R already received.

  • February 2, 2023
  • 1 reply
  • 0 views
Software won't let me proceed without putting in an amount

1 reply

February 2, 2023

Yes, you need to report the RMD even if it is in the mail. You can wait to file your taxes until you actually receive it.  If you do not report the RMD, you will be penalized for not taking the RMD.  The penalty for not taking the RMD is 50% of the amount not withdrawn. 

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