Hal_Al
Level 15

Education

@JillS56 

Schedule 1, Line 8z with a description of "Excess 1099-Q" will trigger the IRS to look for form 5329 either reporting the 10% penalty or claiming the penalty exception.  When entered properly,  TT does this automatically.  

While using a short cut to report the taxable portion will  accurately report  the income, it will be missing this one technicality.  I don't know how aggressively the IRS pursues this.  It should be easily explained in case of an IRS inquiry.