This was a 72T set up soon after retirement (before age 59.5) that provided monthly income, locked in for 5 years and is not supposed to incur a penalty for early withdrawal. I did have federal taxes taken out and know that this income is taxable. But my concern is the penalty. With this information, do you feel that the equal payment entry was correct? I spent all afternoon trying to work this out. I received help from both a turbotax tech rep and they in turn reached out to a turbotax tax expert. They gave me a solution that seems to have fixed the problem (no more penalty). But it was counter intuitive and left me feeling a little wary. Thank you for replying and I welcome your input. It is appreciated.
