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IRS allows exemption to the IRA early distribution penalty for Birth or adoption (up to a $5,000 per qualifying birth or adoption). I do not see a way to do that in TT?
We took a distribution because we had a child born in 2020 but TT seems to think we owe the additional 10% penalty and I don't see that exemption as something I can select to indicate we should not owe that penalty
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‎January 26, 2021
3:24 PM