Thank you, I will pass it on.
Cal



"Mark Bole" <makbo[at]pacbell.net> wrote in message
news:uJ7qj.8869$J41.4979[at]newssvr14.news.prodigy.net...
- quote -

Cal wrote:
- quote -

This is more of a tax questions than m.i.f-p question, the turnaround
time at misc.taxes.moderated is pretty reasonable for questions like this.

He should file Form 5329 and pay the 50% excise tax on excess
accumulation (the amount that should have been withdrawn but wasn't).
He can also request a waiver (refund) if he pays the penalty and there
is a reasonable error and appropriate steps are taken to remedy the
situation -- attach a statement. This form can be filed stand-alone if
a tax return is not required, otherwise attach it to Form 1040 (not
1040A or or 1040-EZ).

See Pub 590 for more information.

-Mark Bole

A friend just told me that he FAILED to make a RMD from his IRA during 2007.
He therefore does NOT have a 1099R to report. He says that he DID take the RMD for 2006
and received a 1099R, and reported it.

How should he handle this. There is no 1099R to report on.
Cal