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drewcever
New Member

Do I need to file my 5329 tax form even if I'm not retired?

I'm only 18 and have not filed for retirement, I'm just trying to figure out if I messed something up.
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2 Replies
Vanessa A
Employee Tax Expert

Do I need to file my 5329 tax form even if I'm not retired?

It sounds like you tried to enter a W-2 as a 1099-R.  If so, go back and delete the 1099-R and re-enter your W-2 by selecting Income and Wages then Start next to W-2.  You can also use clear and start over by clicking Tools in the menu then Clear and Start over.  Then you will be able to re-enter everything.  

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Do I need to file my 5329 tax form even if I'm not retired?

It does sound as if you "messed something up" and entered income in the wrong place, perhaps.  I suggest "clear and start over" for you.

 

CLEAR AND START OVER

https://ttlc.intuit.com/questions/2586254-how-do-i-clear-and-start-over

 

If you have a W-2 to enter go to Federal>Wages & Income

 

 

And...you did not ask about this but since you are probably filing your first ever tax return----at age 18 you can still be claimed as a dependent on your parents' tax return, and it is important for you to enter your information about that correctly.

 

 

CAN I FILE A RETURN IF I AM A DEPENDENT?

If you can be claimed as a dependent on your parents’ return, you can still file your own return so that you can receive a refund of taxes withheld.  Your W-2 will show federal tax withheld in box 2, and state tax withheld in box 17.  (You will not get back anything for Social Security or Medicare withheld.) Be sure that on your own return you say that you can be claimed as a dependent on someone else’s return.

 

https://ttlc.intuit.com/community/children-dependents/help/do-i-need-to-file-my-own-taxes-if-i-m-a-d...

 

 

 

 

If you can be claimed as a dependent and you answer the question in My Info incorrectly, here is what happens if you e-file first:  Your Social Security number goes into the IRS system as having been used.  When your parents try to e-file, their e-file is rejected and they will find it impossible to e-file their own tax return.  Then they will have to print, sign and mail their return and wait for months for it to be processed.  You, meanwhile, will have to file an amended tax return on a special form called a 1040X, which also takes months for the IRS to process.  So make sure you know the correct answer to "Can anyone claim you as a dependent on their tax return?"

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

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