The early withdrawal form your IRA to pay for medical insurance premiums while unemployed is one of the exemptions from the early withdrawal penalty.
Please read this TurboTax Help article for more information.
In TurboTax, please follow these steps:
- After you have entered all your forms 1099-R, on the summary page Review your 1099-R Info, click Continue
- Follow the interview until you arrive at the page titled Did you use your IRA to pay for any of these expenses?
- Enter the amount of your Cobra premiums in the box next to Health insurance premiums while unemployed and click Continue
- Your early withdrawal penalty will be waived.
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