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Retirement tax questions
In box 7 of TurboTax's 1099-R form select whichever code is in box 7 of the Form 1099-R provided by the payer.
When you enter a Form 1099-R that has code 2 in box 7, the "extra taxes" TurboTax refers to is the 10% early-distribution penalty that would otherwise apply.
March 18, 2021
4:21 PM