dmertz
Level 15

Retirement tax questions

If you were over age 59½ at the time of the distribution (which would be the case for a 2021 distribution if you reached age 59½ in 2020), you can claim an Other reason exception to the early-distribution penalty.  This would only apply the the taxable amount of a distribution reported with either code 1 or code J in box 7 (perhaps in combination with some other code).