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Retirement tax questions
What is the Code in Box 7 of your 1099-R? Code 1 = early distribution.
Also, 59 1/2 means on or after the exact date you turned 59 1/2. For example, if your 59th birthday was June 1st, then you attained age 59 1/2 on December 1st. A distribution before December 1st would be considered "early".
**Answers are correct to the best of my ability but do not constitute tax or legal advice.
ā€ˇFebruary 25, 2021
9:01 AM