I took a late RMD from the IRA, so I need to file Form 5329. Per the IRS instructions, I can request a waiver on the fee under the following circumstances: "The IRS can waive part or all of this tax if you can show that any shortfall in the amount of distributions was due to reasonable error and you are taking reasonable…
I have now corrected that and taken the proper amount for that missed RMD as well as the proper amounts for 2023. I called the IRS and their advice was to file a 1040X for 2022 and attach form 5329, explaining what happened and the actions I have taken….does this all sound correct? Thx….
I am 64, My father passed in 2020 at the age of 80 and I have inherited his IRA. I know the IRS waived any penalties for not taking RMDs for 2021 and 2022 while they tightened up their guidance on the 10 year rul. Has the penalty been waived again for 2023 for everyone? Some sources say you must take the RMD for 2023 on…
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