1st RMD taken in the following year, after turning 73

Abel
Abel Member Posts: 1 Newcomer
in Retirement Income

I had an RMD for 2024 of about $4500, but I took the distribution (my 1st) in Feb of 2025. However, Fidelity did not offer (online) for a way to attribute the distribution to the year 2024, so now, when I called Fidelity asking how I show in my 2024 tax return that I took my 1st RMD in 2025, they said they wouldn't provided a corrected 1099, since no distribution was made in 2024.

How do I enter that distribution on my tax return so I get credit for my RMD in 2024 and not pay a penalty?

Answers

  • JMSSGV
    JMSSGV Member Posts: 243

    RMDs don't get attributed to a particular tax year. You just need to be able to show that the a sufficient amount to satisfy the required distribution was withdrawn by the deadline, which was the case. Just remember that you will have to take another RMD for 2025 before 12/31 of this year.

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