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Im trying to load my Military retirement 1099-R into Turbotax, but It keeps adding penalty for early withdrawal. What can I do to fix this?

 
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Returning Member

Im trying to load my Military retirement 1099-R into Turbotax, but It keeps adding penalty for early withdrawal. What can I do to fix this?

After you entered the 1099-R information into TurboTax there should be a follow-up question "Was this Distribution from a Qualified Plan?" answer "From a Non-Qualified Plan". Then TurboTax should not add a penalty for early withdrawal.

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Returning Member

Im trying to load my Military retirement 1099-R into Turbotax, but It keeps adding penalty for early withdrawal. What can I do to fix this?

After you entered the 1099-R information into TurboTax there should be a follow-up question "Was this Distribution from a Qualified Plan?" answer "From a Non-Qualified Plan". Then TurboTax should not add a penalty for early withdrawal.

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Level 1

Im trying to load my Military retirement 1099-R into Turbotax, but It keeps adding penalty for early withdrawal. What can I do to fix this?

Thank you, I'm glad you asked that question, I had been hunting all over to find the answer. There are a lot

of retired military people out there who need to know this. Perhaps Turbo tax should

have a check box for this purpose. Retired military pension is not a qualified plan.