- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
Yes, I agree that because you are over age 59½ the Form 1099-R should have had code 7, not code 1, and that the distribution is not subject to any early-distribution penalty. For that reason you can claim an Other reason (code 12) exception on line 2 of Form 5329, eliminating the penalty.
February 22, 2021
12:15 PM