BillM223
Expert Alumni

Get your taxes done using TurboTax

Your 5329 is called 5329-T in TurboTax, right? This means it is for the taxpayer (whoever the primary taxpayer is on the return). The spouse's 5329 would be listed as 5329-S.

 

But I am puzzled - why do you have a 5329? This form is for calculating penalties on a large variety of tax-advantaged accounts, like IRAs. A "rollover" from a traditional IRA to a Roth IRA should not cause penalties, just a large tax bill as the traditional IRA distribution is added to your income.

 

Did you get a penalty on your traditional IRA distribution, like an early distribution penalty? Is it possible that your spouse did not trigger the same penalty?

 

What lines on your 5329 were filled in?

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