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Retirement tax questions
The code 7 indicates that TurboTax will not treat the distribution as an early-distribution penalty. If 2019 TurboTax asks if you were age 59½ at the time of the distribution because you reached age 59½ in 2019, answer accurately and move on. If you revisit the question you'll need to repeat your answer.
Schedule 2 line 6 is where the penalty would appear on your tax return. If TurboTax is not including Schedule 2 in your tax return, there is no early-distribution penalty present in your tax return.
April 13, 2020
2:44 PM