This makes sense. I am below 59 1/2 age and earnings subject to 10% penalty. I assume that once I complete the 1099R as per your steps, Turbo Tax will account for 10% penalty automatically. Also I did not see a place where I can enter comments to explain the excess withdrawal and as to why I am completing the 1099R during tax filing experience. I just want to make sure that after I do the 1099R step and follow rest of the instructions on Turbo Tax, there’s nothing else needed such as completing any manual forms for the excess reporting.
