All Things Tax

All Things Tax

Like the title says, from the filing process and tax questions to tax policy and reform, you can search and share All Things Tax here. This is the place to find answers to all your general questions that don't fall under the other categories. And just a reminder: questions about software or online filing should be posted in DIY Products.

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Pioneer
Posts: 1
Registered: ‎02-11-2018

Required Minimum Distributions

Does IRS require you to report the actual amounts of the IRAs  from which you are taking the RMDs  somewhere on the 1040 or is the Form 5498 that shows those amounts which Fidelity sends to the IRS considered to be all that needs to be done? I have looked thru Pub 590b and can't find anything on this? Thanks!

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Esteemed Neighbor
Posts: 222
Registered: ‎02-28-2016

Re: Required Minimum Distributions

There is nothing other than the retirement distributions that needs to be reported on your taxes. The IRS will compare your distribution total to the total RMD based on each Form 5498 that they receive.