To see that you are not being assessed an early-distribution penalty, check to see that there is no early-distribution penalty appearing on Schedule 2 line 6.
Except in the case where a 72(t) plan (a series of substantially equal periodic payments initiated with in the 5-years prior to reaching age 59½) is busted, there is never an early-distribution penalty for taking a distribution after age 59½, regardless of how long you had an IRA. TurboTax uses the code in box 7 of the Form 1099-R to determine if your distribution was received before or after reaching age 59½.
Enter the Form 1099-R as received.
If the code in box 7 of the 1099-R indicates that the distribution was made before you reached age 59½ but the distribution was actually made after age 59½, you can claim an Other reason exception to the early-distribution penalty.
