Thank you for your reply. I am helping a friend who's using Turbo Tax Deluxe and I don't know where to look on the return to prove to her that the 10% penalty has already been taken into consideration and calculated by the TT app (that is, if I am correctly understanding your reply). Do you have any suggestions on how I can go about this? Is there a line I can view on the actual return to prove this?
My friend is extremely fearful of mistakenly not paying the 10% penalty. We went through the TT deluxe taxing prep and included all info regarding the 1099R (exception code 1) information and everything else. At the end of it all TT informed us of a small amount owed to IRS. My friend keeps thinking, "ok, I owe x amount but where and how do I pay the 10% penalty on my early distribution?" I don't know where to look on the return to prove to her that the 10% penalty has already been taken into consideration (if I'm understanding your reply correctly) and calculated by the TT app. Do you have any suggestions on how I can go about this? Pardon my long story.
