I had 2 different calls from turbo tax representatives who advised that a 5329 for is not required as long as the the exception code is correct in box 7. In the case of the form with code 1- the penalty is correct and should be assessed which is was when it was filed. There are no exceptions to be had as it was a 401k the issuer closed out and mailed a check and the recipient was under 59 1/2 .
As for the 20k state exemption, I was also advised that this deduction was correct as It was taken after 59 1/2. Now of course I am very concerned I was provided the wrong information and my taxes were filed incorrectly.
I took performed two withdrawals for the year, ine in december 2023(however company cutoff for withdrawals meant this would be counted in 2024) and another in September 2024.
