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posted Jun 4, 2019 8:38:10 PM

Form 1099-R shows my early withdrawal and my regular withdrawal, but Turbo Tax tells me the entire amount is early withdrawal. How do I get around this?

I tried to enter double lines on my 1099-R separately, as if I had received 2 1099-Rs from Vanguard, and then when I entered the line with the distribution code: 7, Turbo Tax asked me if this was a withdrawal before I was 59 ½. Code 7 is for a regular withdrawal.

When I tried to lump all the sums together, both the amount that was an early withdrawal and the amount that was a regular withdrawal, even though I entered both distribution codes: 1 for early, and 7 for regular, Turbo Tax went on to assume that the total $$ entered were all early withdrawal - it did not ask me if any was an early withdrawal, or how much was an early withdrawal.

Should I just pretend I received 2 1099-Rs and separate the early withdrawal from the regular withdrawal? Or can you fix this apparent glitch in the software?

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1 Best answer
Expert Alumni
Jun 4, 2019 8:38:11 PM

Enter them as two separate 1099-Rs, which they really should be. There's no reason to add the distributions together as if there was only one when in fact there were two separate types of distribution. 

1 Replies
Expert Alumni
Jun 4, 2019 8:38:11 PM

Enter them as two separate 1099-Rs, which they really should be. There's no reason to add the distributions together as if there was only one when in fact there were two separate types of distribution.