dmertz
Level 15

Retirement tax questions

In other words, this is not an early distribution.  It is simply a regular distribution beyond the amount that you were required to take for the year. 

 

If TurboTax is calculating an early-distribution penalty on Form 5329, you've entered something incorrectly.  The Form 1099-R should not have a code 1 or code J in box 7 (which is what triggers TurboTax to calculate a penalty) since you are over age 59½.