I am 57 and have been taking SEPP distributions that were setup from my financial management company in accordance with IRS rules for two years. Each year when I enter the 1099-R into TurboTax the first thing it alerts me is that I would be penalized 10%. In a post on October 2023, it helped my to recognize that the problem lies in how my financial organization codes box 7 on the 1099-R form. My company codes it as a 1, when it should be a 2. I called them and they indicated that they no longer code box 7 with a 2 , and they only use 1 since 2006 due to some IRS ruling in 2002. My question is what other options within turbotax can I use to correct my situation, so I can show a valid IRS approved SEPP disbursements without penalities?
