RMD long over due

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  • Dude
    Senior Member
    • Dec 2018
    • 360

    #1

    RMD long over due

    Parent died in 2005 leaving IRA to taxpayer. Taxpayer received a 1099 R in 2010 rolling over the IRA to him. No distribution ever taken per the 5 year rule. Taxpayer just kept IRA incorrectly thinking the rules for a spouse were the same as rules for a child. Looks like an incorrect rollover. Any other option other than amend 2010 with 5329 and waiver request?
    "Dude, you are correct" Rapid Robert
  • Lion
    Senior Member
    • Jun 2005
    • 4699

    #2
    And, if a child and not a spouse, take out the funds ASAP so you can report that you did that on the 5329 with waiver request.

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