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Retirement tax questions
No, you don't need to do anything extra. Enter the 1099-R. Code 7 is good for a regular distribution of substantially equal periodic payments - a pension. This will prevent needing to file form 5329 to abate a penalty. Use Form 5329 if you are required to pay a penalty.
See
- Pages 15-17 of 1099-R instructions which includes code 7
- 5329 article which I don't believe applies to you
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‎January 21, 2025
11:10 AM