Form 5329

While watching my General Motors stock and my retirement go down the drain last year I forgot to take a required minimum distribution form an inherited IRA. I've found Form 5329 and understand the 50% penalty.

My broker is planning on sending me last year's distribution this year and I'm wondering if it will be subject to normal taxes even though I've paid

50% penalty.

Thanks, Jim

Reply to
James Oneway
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Don't do it! You're not required to take any minimum distribution this year (new law).

However, yes, any distribution you take this year is subject to normal taxes.

-Mark Bole

Reply to
Mark Bole

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