1099r box 7 code 1 My son is on SSI disability he is unable to work or drive. does this qualify for disability exception as reason for total w/d from IRA, he is < 59.
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
TurboTax has you covered during Covid. Get the latest stimulus info here.
cancel
Showing results for 
Search instead for 
Did you mean: 
tty31a
New Member

1099r box 7 code 1 My son is on SSI disability he is unable to work or drive. does this qualify for disability exception as reason for total w/d from IRA, he is < 59.

 
3 Replies
CherylW
Level 3

1099r box 7 code 1 My son is on SSI disability he is unable to work or drive. does this qualify for disability exception as reason for total w/d from IRA, he is < 59.

The code in box 7 is determined by the payer of the 1099-R, not your son.  You'll have to use whatever letter/number is in box 7.  

He might, though, qualify for the abatement of the penalty.  After you enter the 1099-R exactly as you have it in your hand, you'll continue on through the section till you get to the screen below:

The definition of 

Disabled . If you become disabled before you reach age 591/2, any distributions from your traditional IRA because of your disability aren't subject to the 10% additional tax. You are considered disabled if you can furnish proof that you can't do any substantial gainful activity because of your physical or mental condition. A physician must determine that your condition can be expected to result in death or to be of long, continued, and indefinite duration.

VolvoGirl
Level 15

1099r box 7 code 1 My son is on SSI disability he is unable to work or drive. does this qualify for disability exception as reason for total w/d from IRA, he is < 59.

And it's just an exception to the 10% Early Withdrawal Penalty.  It is still can be taxable.
CherylW
Level 3

1099r box 7 code 1 My son is on SSI disability he is unable to work or drive. does this qualify for disability exception as reason for total w/d from IRA, he is < 59.

I bolded "penalty". Thanks VolvoGirl!
Dynamic AdsDynamic Ads
v
Privacy Settings