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Online TT seems to deal, within the 1040, with my failure to take all of my RMD - must I still file Form 5329?

Forum|Forum|7 years ago
June 6, 2019
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TT provides space for the calculations and for statements of how I plan to deal with RMD in the future, in exchange for a waiver of the 50% penalty. Is another form needed?

TurboTax Premier Online

Best answer by dmertz

If TurboTax asked you the amount of RMD you required to receive, the (lesser) amount that you actually received, and the amount on which you are requesting a waiver of the penalty due to now having made the missed RMD, TurboTax automatically prepares and includes Form 5329 and your explanation statement. No other form is needed. Print and review your tax return for filing to see that Form 5329 and your explanation are included.

D

dmertzAnswer

Employee

If TurboTax asked you the amount of RMD you required to receive, the (lesser) amount that you actually received, and the amount on which you are requesting a waiver of the penalty due to now having made the missed RMD, TurboTax automatically prepares and includes Form 5329 and your explanation statement. No other form is needed. Print and review your tax return for filing to see that Form 5329 and your explanation are included.