Form 5329 2016-2025

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Form 5329 is a tax form used by individuals to report additional taxes on qualified plans, including IRAs and other tax-favored accounts. It includes sections for calculating taxes on early distributions, excess contributions to various retirement accounts, and failure to take required minimum distributions. The form must be attached to Form 1040 or Form 1040NR when filing.

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Versions	Form popularity	Fillable & printable
2023	4.6 Satisfied (52 Votes)
2022	4.3 Satisfied (54 Votes)
2021	4.9 Satisfied (41 Votes)
2020	4.3 Satisfied (76 Votes)
2019	4.4 Satisfied (768 Votes)
2018	4.1 Satisfied (62 Votes)
2017	4.4 Satisfied (180 Votes)
2016	4.4 Satisfied (1170 Votes)
2015	4 Satisfied (52 Votes)
2014	4 Satisfied (57 Votes)
2013	4.4 Satisfied (59 Votes)
2010	4 Satisfied (20 Votes)
2008	4.2 Satisfied (52 Votes)

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How do I get form 5329 on TurboTax?

You can use the forms mode if you decide to use the TurboTax Desktop software if you do not have a Form 1099-R to file: Enter the forms mode and click on Open Form and type 5329. Scroll down to Part IX line 52 and enter the RMD amount that should have been taken.

Who fills out form 5329?

Calculating additional taxes Form 5329 is the tax form used to calculate possibly IRS penalties from the situations listed above and possibly request a penalty waiver. Form 5329 applies to each individual that might owe a penalty, so for married couples filing jointly, each spouse must complete their own form.

Where do I find my 5329 form?

Get tax Form 5329 from a government agency, a tax preparation service, or you can download it from the IRS website.

Can IRS form 5329 be filed electronically?

If you dont have to file a 2023 income tax return, complete and file Form 5329 by itself at the time and place you would be required to file Form 1040, 1040-SR, or 1040-NR. If you file Form 5329 by itself, then it cant be filed electronically.

Does everyone get a form 5329?

You may need this form in three situations: early distributions from a tax-favored account. excess contributions to a tax-favored account. failing to take required minimum distributions.

What is a reasonable cause for 5329?

Form 5329 Waiver Example The IRS can waive this penalty on an individual basis, only if the shortfall was due to reasonable error and reasonable steps are being taken to correct the shortfall. Reasonable causes for missing the RMD include serious illness, mental incapacity, or an error made by the bank.

What is the IRS form 5329 used for?

Use Form 5329 to report additional taxes on IRAs, other qualified retirement plans, modified endowment contracts, Coverdell ESAs, QTPs, Archer MSAs, or HSAs.

How do I enter form 5498 on my tax return TurboTax?

Form 5498: IRA Contributions Information reports to the IRS your IRA contributions for the year along with other information about your IRA account. Your IRA custodiannot youis required to file this form with the IRS, usually by May 31. You wont find this form in TurboTax, nor do you file it with your tax return.

Form 5329 2016-2025

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