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March 9, 2025
Question

How do I pay the penalty for not taking a RMD on my IRA?

  • March 9, 2025
  • 1 reply
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1 reply

SharonD007
March 9, 2025

To pay the penalty, you must file Form 5329.  When you enter your 1099-R and go through the interview screens TurboTax will generate Form 5329 once it's determined that you owe extra tax for failure to take your Required Minimum Distribution (RMD.

 

To review your entries, refer to the TurboTax article Where do I enter my 1099-R? for navigation instructions.

 

 You can review the TurboTax article What is an RMD? for more information.

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