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Retirement tax questions
If the Form 1099-R has code 1, filing either Form 5329 stand-alone or Form 1040 with Schedule 2 is required to report the 10% early-distribution penalty. Form 5329 cannot be e-filed stand-alone. Having 10% withheld will avoid any failure-to-file penalty, but avoiding the failure-to-file penalty doesn't eliminate your obligation to file.
‎October 11, 2022
9:39 AM