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Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 13323
Experience:  15years with H & R Block. Divisional leader, Instructor
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TIAA-CREF processed my 2015 RMD on Dec. 31, but did not actually

Customer Question

TIAA-CREF processed my 2015 RMD on Dec. 31, but did not actually send me the money until Jan. 4, 2016, and therefore did not send me a 1099 for 2015. I have my TIAA-CREF annual report showing the processing of the RMD on Dec. 31. TIAA-CREF tells me that their 1099 for 2016 will show the RMD for both years, 2015 and 2016. How do I handle this in my 1040 tax return for 2015?
Submitted: 8 months ago.
Category: Tax
Expert:  Robin D. replied 8 months ago.
HelloYou technically missed your RMD unless this was your first year of teh requirement.The first payment can be delayed until April 1 of the year following the year in which you turn 70½. For all subsequent years, including the year in which you were paid the first RMD by April 1, you must take the RMD by December 31 of the year.If you missed the deadline and this was not your first RMD required, let the IRS know by filling out a Form 5329 and request a waiver.The penalty is 50% of the the RMD so you want to let them know you did take it out but the administrator delayed.You are required to click a positive rating if I am to be credited with the response.You have to actively click on a rating and click submit. Smiley Faces or Stars.
Expert:  Robin D. replied 8 months ago.
Checking to see if you responded