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How can I enter info in the 1099-R section if I retired under an early retirement qualified law enforcement position and not get the 10% penalty added?

Turbo Tax says I have to pay a 10% penalty because I am withdrawing from my thrift savings plan before I'm 59 1/2. The special retirement coverage I was in allows qualified retirement at 50 and withdrawls with no penalty.  How do I correct the turbo tax calculation?
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1 Reply
MargaretL
Expert Alumni

How can I enter info in the 1099-R section if I retired under an early retirement qualified law enforcement position and not get the 10% penalty added?

Be sure to answer:

  1.  Yes to Was (your name) employed as a public safety employee such as a law enforcement official or fire fighter?  and
  2.  follow the interview questions. You will be enter your distribution amount in the exception field as Separation From Service the Year After Age 55 (Age 50, if Public Safety Employee) - this will eliminate the penalty.

Please refer to attached pictures.

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