DanaB27
Expert Alumni

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.

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