DanielV01
Expert Alumni

Retirement tax questions

Leave 7b blank.  Some reporting agencies put a qualifying explanation with a second code in box 7b when box 7(a) code is 2.  This is because a box 2 code is that you don't have a penalty for the early distribution, but that box doesn't say why.  Box 7b does give the explanation with a code.  But it is not required for the issuing agency to put this information.  Thus, if you do not have a box 7b, leave that box blank on the TurboTax screen.

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