- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
Yes, it is ok that Form 5329 was not created.
You removed the excess contribution/ recharacterized to avoid excess contribution in time and therefore you do not have the 6% penalty tax.
Also, the 1099-R with code P and J did not have any earnings that would trigger the 10% early withdrawal penalty.
Therefore, you do not owe any penalty and Form 5329 is not created.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎February 28, 2021
5:45 AM