Not sure why the form is generated.
IRS form 5329 reports additional taxes on many retirement and pension related incomes.
This form may be used in these three situations:
- early distributions from a tax-favored account
- excess contributions to a tax-favored account
- failing to take required minimum distributions
In some cases, a form is deleted and then the software re-generates the form. Should that occur, that means that there is an entry in the software that needs to be addressed.
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