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Retirement tax questions
Form 5329 "Additional Taxes on Qualified Plans" is generated when you withdraw funds from your retirement plans including IRA before you reach age 59 1/2. It will calculate an early penalty of 10% of your distribution unless you meet one of the exceptions. For details, click here: Early withdrawal exceptions
It sounds like some related information might have been carried over from last year. If this form does not apply to you, you can simply remove it from the program. Here are the steps:
in TurboTax online,
1. Sign into your account, select Pick up where you left off
2. Select Tax Tools, click on the drop down arrow
3. Select Tools
4. Under Other helpful links, choose Delete a form
5. Select Delete next to the Form 5329 and Continue with My Return
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