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Retirement tax questions
I am using desktop. I have entered a 1099-Q with easy to follow numbers. When I switch over to forms mode:
- the Q correctly shows the amounts I entered
- Sch 1 line 8z shows just the earnings
Switch over to forms mode and check your Sch 1.
For the penalty:
Locate Form 5329-T
Part II
Look at lines 5-8
The additional tax, the 10% penalty, shows on line 8.
If this is not what you are seeing, there is a wrong answer in the entry section and you need to review your answers.
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March 25, 2025
3:32 PM