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Retirement tax questions
TurboTax generates the 5329 if it discovers that you owe extra tax on a variety of situations, such as excess contributions to an HSA or IRA, early distributions from a retirement plan, failure to distribute Required Minimum Distributions, and so on.
Then TurboTax attaches the form to your return.
You can review your Form 1040, and see if any tax from Form 5329 is showing up on Schedule 2, line 8. To view your Form 1040, while logged in to your return:
- Click on "Tax Tools" on the left of your screen
- Click "Tools" from the drop down menu
- Click on "View Tax Summary"
- Click on "Preview my 1040" on the left hand side of screen
Try entering Form 5329 in the search bar if you are in TurboTax Download Version or switch to "Forms Mode" and over to the left type Form 5329 in the search Box.
Click here for additional information on Form 5329.
[Edited 04/01/23|9:31 pm PST] @gvrp
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March 31, 2023
6:39 PM