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I know there’s a penalty on early distributions. My issue or question is that some distributions were early and some were not early in the same year. Are all of the distributions for that year subject to penalty even though I was 59.5 when some/most of the money was received?

I would like to take a deeper look at this. However, I need a diagnostic file which is a copy of your tax return that has all of your personal information removed. You can send one to us by following the directions below:   TurboTax Online:   Sign into your online account. Locate the Tax Tools on the left-hand side of the screen. A drop-down will appear. Select Tools On the pop-up screen, click on “Share my file with agent.” This will generate a message that a diagnostic file gets sanitized and transmitted to us. Please provide the Token Number that was generated in the response.   TurboTax Desktop/Download Versions:   Open your return. Click the Online tab in the black bar across the top of TurboTax and select “Send Tax File to Agent” * This will generate a message that a diagnostic copy will be created.  Click on OK and the tax file will be sanitized and transmitted to us. Please provide the Token Number  (including the dash) that was generated in the response.   *(If using a MAC, go to the menu at the top of the screen, select Help, then, “Send Tax File to Agent”)  @lonestarjacket 

This TurboTax Help states:   Unless you qualify for an exception, you will pay a 10% additional tax penalty on the taxable amount of early distributions from an IRA (traditional or Roth) before reaching age 59 1/2.   When entering the IRS form 1099-R's, look for the screen Let's see if we can lower your tax bill which warns about owing the 10% additional tax penalty and the penalty exceptions.

His filing status would still be single, what you need to change is to mark that he is a dependent on another return. This question is in the beginning of the return in the My info section, right after you enter his name.  There is a question asking for other situations, you will need to mark that your son can be claimed in another return.     Regarding the transcript, to amend his return, you will need to recreate his original return, so just enter his information as it was on the original.  Enter all of the income forms he included on his return, and do not mark the question that he is someone else's dependent.  After entering the same income forms, the numbers should match the numbers in the IRS transcript.     Once you are done with the original return, mark that you are filing it as a paper return, then start the amended return.  As long as everything else is correct, the only change you will need to make is that he is a dependent on another return.     How do I amend my federal tax return for this year? @jmtmomo3   

If you did not receive unemployment, the 1099-G request likely refers to a state or local tax refund from last year. If you received a state tax refund last year, it could be taxable. Look up your state refund amount via your state's tax agency or your banking statements.   If you did not receive unemployment or a state refund, you could possibly be a victim of identity theft. You can check your state's Department of Labor (DOL) site for any 1099-G Form to determine if a fraudulent account exists. Check your  return for a Form 1099-G and if one exists, delete it. And make sure you did not answer Yes to receiving unemployment benefits.   You can check your TurboTax entries as follows: Click on Search at the top right of your TurboTax screen Type Form 1099-G in the search box and Enter Click on the link Jump to Form 1099-G Your screen will ask Did you receive unemployment or paid family leave benefits? Make sure this is answered no.   If you are using TurboTax Online you can delete a Form 1099-G as follows: In your left panel of your TurboTax screen click on "Tax Tools" And then Click on "Tools" Click on "Delete a Form" Scroll through your list of Forms Click the garbage can next to "Form 1099-G" If you are using TurboTax Desktop, you can delete a Form 1099-G as follows: Click on "Forms" in the upper right of your TurboTax screen to switch to "Forms Mode" In your left panel scroll down and look for "Form 1099-G" In your right panel at the bottom of Form 1099-G, click on "Delete Form" Click on "Yes" to confirm the deletion. Click here for How to Delete Forms in TurboTax Desktop.   Click here for "How to View and Delete Forms in TurboTax Online.   Please return to Community if you have any additional information or questions and we would be happy to help.

@jmrauman wrote: Re: My TurboTax 2025 does not recognize the 2024 Turbo tax return file. Are you having a problem with transferring the 2024 return data info into a new 2025 return?   This thread is a mix of Windows users and Mac users.  In order to help you, we need to know if you are using a PC or Mac version.    And do you have the *.tax2024 data file on  your computer?   In Windows, the default location is the Documents\TurboTax folder.    However, if you are using a Mac, there is a known transfer issue into 2025 that we can tell you about that will hopefully resolve it.   So please provide some details.

Hi, I was reading this and I made the error of withdrawing more than the excess contribution. I requested an amount as Return of Excess that was larger than the required by about $1000. How do I account for the extra money taken out? Thanks - Ben