Form 5329 is prepared under Other Tax Situations, Extra Tax on Early Retirement Withdrawals. The form is generated automatically when you enter Form 1099-R to report a retirement distribution.
If you need to return to the Form 5329 information after completing the TurboTax interview, follow these directions to jump directly to the entry screen.
- Select Federal Taxes (Personal in the Self-Employed/Home and Business edition).
- Select Other Tax Situations.
- Scroll down the Other Tax Situations screen until you see the "Additional Tax Payments" group.
- Click Start/Update button next to the Extra Tax on Early Retirement Withdrawals topic.
- Follow the prompts.
You can also use the Search/Find box, type in "5329(sp) early distribution", and click on the "jump to..." link. If you have entered information for this form, the jump-to will take you directly to the beginning of this section.
In TurboTax Desktop, you can find Form 5329 in Forms mode (click on the Forms icon in the header). Use the search function to Open a Form. If there is a copy already in your return, you will see it listed. Otherwise, you will be given the choice to open a blank form.
