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1099 R Code W and Form 5329
I get a 1099R from Lincoln National for payments from a life insurance policy that go to pay for purchasing a qualified long-term care product. Box 7 is correctly filled in as W. TurboTax creates Form 5329, indicating that the distribution was an incorrect early distribution, exception number 12 (Distributions incorrectly indicated as early distributions by code 1, J, or S in box 7 of Form 1099-R). How do I get TurboTax to not create this form, which I do not believe I am required to file.
March 11, 2024
2:54 PM