Question

How do I include form 5329 when I e-file with TurboTax?

Forum|Forum|6 years ago
March 13, 2020
3 replies
0 views

I forgot to take an RMD from an inherited Roth in 2019. I withdraw it on Jan. 6, 2020. How do I include form 5329 to report that when I e-file with TurboTax?

M

MinhT1

Yes, you must include form 5329 when you e-file.

To fill out form 5329:

Open your return and click on Search on the top of your screen.
In the Search box, type form 5329 and click on the magnifying glass icon on the right
Click on the link Jump to form 5329
TurboTax will take you to a section where you can fill out form 5329, which will be included in your tax return.

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D

dmurphy11Author

I tried that, but it's like it's doing a web search, not a search in TurboTax. It got 7742 hits. The first link is to this question online. I also clicked on "Forms", but that appears to only list the forms that are currently included in my return.

AmyC

Employee

You don't have anything entered into your tax return to trigger the 5329. You have forms mode.

In forms mode, go to the top of the list and you will see OPEN form and ERRORS.
Click on open form.
Wait patiently, May need to click it again and wait
search box opens up
Type in 5329 pause,
the federal will dropdown and show 5329-T, Taxpayer an 5329-S for Spouse.
Click open form

@dmurphy11

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B

Bob T1944

Turbotax does not let me enter numbers in the data fields. I opened 2020 Traditional IRA by mistake. Since I am covered by employer retirement plan and my income exceeds the limit, I should not have opened the IRA. I closed the IRA and need to submit Form 5629 but I cannot enter data. How can I enter data? Thanks

A

ajbrogan

Hi Bob -- are you using TurboTax online? I am too, and as you can see, I had a similar question above. I think this same problem happens to people all the time, so it would be great if TurboTax had an option to help us in the online version! I may have found a workaround, though, at least for a Roth IRA. To trigger the Form 5329 to appear, I created a dummy 1099-R with the dollar values I expect to see on my 1099-R next year. I had to work with my financial advisor to get the right numbers to enter on Lines 1 and 2a. I also had to Google the right codes to put into the 1099-R on line 7. I used 8 and J, and that seemed to work. Hope this helps! Good luck!

B

Bob T1944

Thanks. I'm working w the disc version. I've been trying to fiddle with other inputs to see if I can trigger getting Turbotax to ask me for the input data for the form (sorta like you did) but no luck yet. I've not experienced the situation before where I can't enter data directly to the form. Fortunately IRS and state extended the filing date. If I can't solve soon I am toying with trying HR Block Premium online and perhaps switching in in future years if their solution is better. Thanks