- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
On form 8960 line 10 turbotax says I owe $ as a penalty for early withdrawal, but I'm 61 and can withdraw from a Roth
I'm confused about where turbtax got the amount that is on line 10 of form 8960. When I look at the worksheet it shows in Part IV, line 3 that I have a "Penalty on early withdrawal of savings." The only withdrawal was from my ROTH IRA and I'm 61, so there should be no penalty. One can withdrawal regular Savings account money at will, so I'm confused as to where this came from.
Is it perhaps a charge because I earned a lot of interest on savings this year?
Any suggestions.
Topics:
March 6, 2024
5:22 PM