IRA distribution for medical expense, how is this credit applied?

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DoninGA

Level 15

If your Form 1099-R has a code of 1 in box 7 and you have entered the Form 1099-R. You will go through several screens after entering the 1099-R. One of the last screens will be labeled These Situations May Lower Your Tax Bill. Enter the amount of your medical expenses, if applicable, in the box labeled - Medical Expenses (in excess of 7.5% of AGI)

userjgood6812Author

Level 2

Thank you all for your responses. My question has been answered.

James

TomK2023

Alumni - Intuit

Your 1099-R should show Code 1 in Box 7 - Early distribution (except Roth), no known exception.

You can avoid an early withdrawal penalty if you use the funds to pay unreimbursed medical expenses that are more than 7.5% of your adjusted gross income (AGI).

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