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Retirement tax questions
Yes, it should have code 7 instead of code 1. They apparently do not have your birth date, so the used code 1 because they know you can claim an Other reason exception to the early-distribution penalty for being over age 59½. When you claim an Other reason exception, it is reported on line 2 of Form 5329 with code 12.
January 27, 2023
7:54 PM