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Retirement tax questions
Thanks for your questions, @emel1 !
The scenario you describe seems to meet the IRS requirements that the SEPP distributions continue for five years or until you reach age 59 1/2, whichever comes later. What you do after the five years have expired should have no impact.
TurboTax does have prompts related to SEPP distributions. When asked, you would need to answer that, "Yes, I got regular payments from this retirement account". On a later screen, TurboTax will give a list of options under the heading, "These Situations May Lower Your Tax Bill". Choose "Equal Periodic Payments", and enter the amount of the SEPP distribution.
Hope this helps, please let me know if this raises additional questions!
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‎July 26, 2023
4:34 PM