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5329 for exemption on 10% early withdrawal tax...
I had to remove an excess contribution to my Roth, and after importing the 1099-R, TT informed me that I would be hit with an additional 10% early withdrawal penalty.
After doing some research I was informed that I can request an exemption for this penalty by filing a "5329".
Can anyone explain the steps for how this is done inside of TT?
Thanks!
March 28, 2025
11:40 AM