JackieCPA Posted June 7, 2022 Report Posted June 7, 2022 If a client didn't take their 2021 RMD from their IRA, but they took enough out of a pension to cover what the RMD would have been - does that count or does it have to be from an IRA and pensions do no count? Quote
RitaB Posted June 7, 2022 Report Posted June 7, 2022 29 minutes ago, JackieCPA said: If a client didn't take their 2021 RMD from their IRA, but they took enough out of a pension to cover what the RMD would have been - does that count or does it have to be from an IRA and pensions do no count? No, the RMD would have to come from the IRA. 1 Quote
JackieCPA Posted June 7, 2022 Author Report Posted June 7, 2022 I knew that - but was hoping that I was wrong. Thanks! 1 Quote
JackieCPA Posted June 14, 2022 Author Report Posted June 14, 2022 Do I have to amend a tax return if I am filing 5329 and asking for reasonable cause waiver of the penalty for not taking your RMD? or do I have to amend the return and show an amount due on it and ask for waiver with it? Or can I just file the 5329 with a waiver explanation separately? Quote
grandmabee Posted June 15, 2022 Report Posted June 15, 2022 BUT remember, she has to take out the missing RMD including the earnings on that part of it. NOW plus current 2022 before end of year. Quote
mcbreck Posted June 17, 2022 Report Posted June 17, 2022 On 6/15/2022 at 3:03 PM, grandmabee said: BUT remember, she has to take out the missing RMD including the earnings on that part of it. NOW plus current 2022 before end of year. Stock market earnings in 2022? Quote
Bart Posted June 17, 2022 Report Posted June 17, 2022 29 minutes ago, mcbreck said: Stock market earnings in 2022? Earnings since the first retirement contribution was made. Quote
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