Turbotax Premier 2024 Desktop edition - Form 5329 error with request for explanation.

Forum|Forum|1 year ago
February 5, 2025
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I turned 73 in June 2024. It is my understanding that I have until April 2025 to take my 2024 RMDs. I took most of them in 2024 but some remained. I took the remainder in January of 2025. I have tried to document this using form 5329 in the frame labeled "Waver of Tax Smart Worksheet Lines A and/or B.

I enter the amount taken in 2025 along with supporting details and an explanation, but the program shows the entry in red and displays the error exclamation point and (Not Done) after the form number.

Do I use line A, or Line B?

How do I make the Error go away?

Best answer by Disgruntled4

But just enter the amount that was for the RMD on that 1099R when it asks how much was the RMD not the total RMD you need to take.

Fixed!

I revisited the offending 1099-R and saw that I needed to report the required RMD only if it was due on January 31st.

I had not previously seen the statement ...

"Do not include RMDs which are due on April 1. RMDs for the first year you're required to take a distribution are generally due on April 1."

I changed the RMD due by Dec. 31, 2024 to zero, Deleted the Form 5329, and all is well

VolvoGirl

Employee

Since you don’t have to take the first RMD until April 1 of the next year then just say the amount from box 1 on that single 1099R is for the whole RMD. Say yes it was all the RMD and put in the amount from box 1.