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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).
April 4, 2022
6:39 PM