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Do I report 2024 Inherited IRA Missed RMD information on lines 52 & 53?

Forum|Forum|3 months ago
March 25, 2026
2 replies
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Client's financial institution did not disburse the 2024 RMD for an inherited IRA that they weren't aware of until I asked the client why she had a disbursement for 2025 and not 2024? They disbursed the funds today which will be reported on the 2026 1099. I'm filing the 5329 for 2024 but am confused as to where to enter the information. Is it only in Part IX, line 52 and 53? And do I file the form alone or as an amended return?

Best answer by IntuitReneV4

Yes, you will enter the information in Part IX, Additional Tax on Excess Accumulation in Qualified Retirement Plans, line 52a and line 53b.

For your 2024 Form 5329 entries:

Click on Where do I Enter? at the top left corner of your ProSeries screen and type 5329

Select Form 5329-T
On Form 5329-T, scroll down to Line 52a and input the $_ that was their RMD
On Line 53a, input zero (0) for the amount of the RMD they took
Input the $_ in Box A found just below Line 53b
Click Explain just below the $_
Write: "Taxpayer mistakenly did not take the RMD for their inherited IRA. Upon discovering the error in 2026, they immediately withdrew the full 2024 RMD amount of $_. They have now set up an automatic withdrawal to ensure this does not happen again."

Note: Since they missed their RMD in 2025 as well, you will need to complete the above steps again while completing their 2025 tax return, including the explanation.

An amendment is generally not required to file Form 5329, since it is a stand alone form. However it is recommended to ensure that the IRS computer links the waiver to the correct tax year.

rbynaker

Level 13

Taking a step back, did the inherited IRA qualify for the RMD waiver?

Scroll down about 60% for the Limited Relief section of the article, including an example:

https://www.kiplinger.com/taxes/irs-10-year-rule-for-inherited-iras-kiplinger-tax-letter

Rick

L

Love2CruiseAuthor

Level 5

I spoke with the financial client services manager of the client's financial institution, and she confirmed that the 10-yr rule does not apply.

BobKamman

Level 15

The only thing more dangerous that calling the IRS for help with a tax question, is calling a financial client services manager.

L

Love2CruiseAuthor

Level 5

Just following up to see if anyone can assist me with this question.

Thank you in advance.

I

IntuitReneV4Answer

Level 2

Yes, you will enter the information in Part IX, Additional Tax on Excess Accumulation in Qualified Retirement Plans, line 52a and line 53b.

For your 2024 Form 5329 entries:

Click on Where do I Enter? at the top left corner of your ProSeries screen and type 5329

Select Form 5329-T
On Form 5329-T, scroll down to Line 52a and input the $_ that was their RMD
On Line 53a, input zero (0) for the amount of the RMD they took
Input the $_ in Box A found just below Line 53b
Click Explain just below the $_
Write: "Taxpayer mistakenly did not take the RMD for their inherited IRA. Upon discovering the error in 2026, they immediately withdrew the full 2024 RMD amount of $_. They have now set up an automatic withdrawal to ensure this does not happen again."

Note: Since they missed their RMD in 2025 as well, you will need to complete the above steps again while completing their 2025 tax return, including the explanation.

An amendment is generally not required to file Form 5329, since it is a stand alone form. However it is recommended to ensure that the IRS computer links the waiver to the correct tax year.

BobKamman

Level 15

@IntuitReneV4 writes, "Note: Since they missed their RMD in 2025 as well, you will need to complete the above steps again while completing their 2025 tax return, including the explanation."

Where is that coming from? The original post states, " I asked the client why she had a disbursement for 2025 and not 2024?"

We'll never know, apparently, whether this was an inherited IRA from years ago, with distributions required every year under single life expectancy; or from someone just recently deceased, in which case it's almost certain that an IRS waiver applies.

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