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My 2nd year taking rmd from my ira, I wanted to include rmd…

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Hi, my 2nd...

Hi, my 2nd year taking rmd from my ira, I wanted to include rmd in my income for 2017, I mistakenly thought I had until April 2018 to take rmd, I took rmd 3 Days late, Jan 3,2018. How How can I include this income with my 2017 income at this point

Accountant's Assistant: The Accountant will know how to help. Is there anything else the Accountant should be aware of?

I will not be getting a 1099 for 2017 from my financial institution. I find this out after I take my RMD on January 3, 2018

Submitted: 1 month ago.Category: Tax
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1/3/2018
Tax Professional: Lev, Tax Advisor replied 1 month ago
Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 31,277
Experience: Taxes, Immigration, Labor Relations
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You will NOT be able to include that distribution into your 2017 tax return because it was taken in 2018.
That distribution will be reported to you on 2018 form 1099R and will be included into your 2018 tax return.

What you will need to do at that time - to use form 5329 and ask to waive penalty for late distribution of RMD.

Let me know if you need any help with reporting.

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Customer reply replied 1 month ago
No thanks, ***** ***** not helping.. thanks anyhow
Tax Professional: Lev, Tax Advisor replied 1 month ago

That is NOT possible to shift 2018 distribution to 2017 income.

Sorry if you expected differently.

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