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Retirement tax questions
You explained it already by entering earnings under "Corrective distributions made before the due date of the return" on the "Did you use your IRA to pay for any of these expenses?" screen. This will put code 21 on line 2 of Form 5329: "Corrective distributions of the income on excess contributions distributed before the due date of the tax return (including extensions)."
Also, when you enter Form 1099-R with code PJ TurboTax will ask you to fill out the explanation statement.
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March 18, 2025
5:31 AM