If you received and entered a 2022 Form 1009-R for a retirement distribution and are under 59 ½ then you will have to pay a 10% early withdrawal penalty unless you meet an exception.
If you rolled over the funds within 60 days into a similar retirement account then you can indicate this in the follow-up questions. Then this will be nontaxable and not subject to the 10% penalty.
- Login to your TurboTax Account
- Click on "Search" on the top right and type “1099-R”
- Click on “Jump to 1099-R” and enter your 1099-R
- Continue "Tell us if you moved the money through a rollover or conversion" and select "I rolled over some or all of it to an IRA or other retirement account within the time limits (normally 60 days)"
- Continue answering the questions.
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