Vanessa A
Expert Alumni

Retirement tax questions

How old are you?  If you are under 59 1/2 years old, you would still be liable for an early distribution penalty of 10% unless you meet one of the exceptions for the penalty. As you walk through the interview questions after entering your 1099-R, you will be asked about the exceptions. 

 

If you are over 59 1/2 TurboTax will use your date of birth that you entered in the personal info section and the code in box 2 of your 1099-R to determine that your distribution is not taxable. 

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