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Mike12321
Level 4
June 3, 2023
Question

Failure to take RMD

  • June 3, 2023
  • 1 reply
  • 13 views

Client rolled 401(k) to an IRA but failed to direct taking the 2022 RMD.

Has taken a little more than the required RMD for 2023.

Can they use some of the excess to offset the makeup of the 2022 RMD in 2023?

This topic has been closed for replies.

1 reply

Skylane
SkylaneIntuit Community Champion
Intuit Community Champion
June 4, 2023

Nope, 

For 2022, Complete f5329 part IX. Enter a reasonable explanation for IRS to waive the penalty… 

in tax year 2023 take the full RMD amount  required for 2022 and 2023. 

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