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swiss
New Member

Form 5329-T, it keeps telling me I have to enter an amount of at least $10,000 for first home purchase which I did not use my early withdrawal for.

We withdrawal $10,600 from a Roth IRA and used $4000 for my sons education. TurboTax is sending an error message because we did not enter at least $10,000 under first home purchases. Why?
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1 Reply
dmertz
Level 15

Form 5329-T, it keeps telling me I have to enter an amount of at least $10,000 for first home purchase which I did not use my early withdrawal for.

This happens when you indicate in the follow-up to entering a code J Form 1099-R that you used at least some of the money from the Roth IRA to purchase a first home and you do not also indicate on the penalty-exception page that you used the money for a first-home purchase.

Unfortunately, TurboTax does not provide any way to get back to the original follow-up question to change your response.  You must delete and reenter the code J Form 1099-R for the Roth IRA distribution, then proceed through the follow-up questions again. 

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