TurboTax

File with experts
File your taxes
Experts at your fingertips

An expert helps with your taxes, or does them for you
TurboTax Expert Full Service

TurboTax Expert Assist

TurboTax Self-Employed
Prior year taxes
File myself
File myself
Do it yourself

We'll guide you step-by-step
TurboTax Do It Yourself

TurboTax Self-Employed

TurboTax Desktop
TurboTax Free

Activate your product

Prior year taxes
Business
Business
Business taxes

Get your T2 corporate return done right, your way
TurboTax Business

TurboTax Business Desktop
Tax situations
Tax situations
Tax situations

Find extra guidance for your big life moves
For investors

For 25 and younger

For self-employed

For new to Canada

For life changes
Resources
Resources
Resources

Explore tax tools, get tips, and read reviews
Personal income tax calculator

RRSP savings calculator

Learning hub

TurboTax support (FAQ)

TurboTax community
Pricing

Level 2

Question

401 K withdrawal age 59 1/2

6 replies
26 views

A withdrawal was made on a 401 K at the age of 59 1/2. When checking the box that the withdrawal was taken out after age 59 1/2. Turbo tax keeps switching it back to before age 59 1/2. Can anyone help?

Alumni - Champ

What is the Code in Box 7 of your 1099-R? Code 1 = early distribution.

Also, 59 1/2 means on or after the exact date you turned 59 1/2. For example, if your 59th birthday was June 1st, then you attained age 59 1/2 on December 1st. A distribution before December 1st would be considered "early".

**Answers are correct to the best of my ability but do not constitute tax or legal advice.

Theresa12312Author

Level 2

The code in box 7 is 7. Normal distribution

Level 15

TurboTax only asks this question to determine what question to ask next, so it does not record your original answer at all.

Theresa12312Author

Level 2

So it doesn't matter what this box says when I go back then correct?

Level 15

Just answer correctly and proceed.