Retirement tax questions

Form 5329-T reports Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts. It is automatically generated when you become liable for the taxes due.

 

To access the form to enter information follow these steps:

 

Federal - Other tax situations.

Scroll down to Additional Tax Payments.

Click on Start  / Revisit on Extra tax on Extra tax on early retirement withdrawals.

 

The most common use of form 5329 is to waive exceptions to the 10% penalty for early withdrawal of a pension distribution.