- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
I am being charged a early withdraw 10% tax on my RMD and am 73 years old. Is box 7 on my 1099 R incorrect?
Topics:
May 9, 2020
2:15 PM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
The box 7 code should be "7" - what is it?
In any event, if your date of birth is properly entered in the Personal Information, then there should not be any penalty applied.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
May 9, 2020
3:52 PM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
And where do you see that you are being assessed any early-distribution penalty? Any early-distribution penalty would appear on 2019 Schedule 2 line 6.
May 9, 2020
6:32 PM