How are line 52 and 53 in Form 5329 generated
In my tax return, have to take RMD from inherited IRA and Roth IRA. I accidently under withdraw last year resulting in an excess accmulation, which I then made up in 2025 within the correction window. On the software, I enter the following screens:
The form generated shows:
So how are 52a, 52b, 53a, and 53b generate? Shouldn't the value be $9794 in 52a since it's from a qualfied plan (inherited IRA and inherited Roth). How did we come up with the negative $3,488? I didn't think negative numbers are allowed on the form.
Comments
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Unfortunately, I feel that the generated form is not correct and I should just enter the forms manually, but it appears FreeTaxUSA does not have a form option like in Turbo Tax. It's possible I cannot use FreeTaxUSA this year.
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I also ran into this problem. I contacted support and they responded to me. They told me that this is a known problem that they are working on, but it won't be fixed this year.
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