To whom it may concern,
Hello. I’m in the process of filing my taxes and had to do a withdrawal from my Roth IRA. I’m trying to avoid the 10% penalty because I took the money before the actual time. It has come to my attention I need to provide a letter to the IRS stating my disability status to avoid the 10% penalty. I’m aware that this can all be avoided if the brokers of the Roth IRA put a particular code on my 1099-R. I haven’t received the 1099-R yet, but I read that it is incorrect a lot of the time. If that’s the case, that’s why I have a few questions below in regard to the matter. Please advise. Thank you for your time and help.
- What code should be on my 1099-R? Once again, I’m permanent and totally disabled and withdrawing from my Roth IRA. I notice different codes being mention in the community when it comes to this similar situation. Also I have had the Roth IRA over 5 years.
- It’s said online that a letter is need from a physician. If that’s true, am I able to upload that letter to TurboTax to do an electronic submission or do I have to print it out and mail it with my tax documentation?
- If a letter is not needed, what form do I fill out. I heard it’s either Schedule R, Schedule 2, or Form 5329?
