in [Event] Ask the Experts: Tax Law Changes - One Big Beautiful Bill
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To get to that screen:
According to the IRS, "Qualified birth or adoption distributions. Attach a statement that provides the name, age, and TIN of the child or eligible adoptee" are classified as an "Other Distribution."
Holy cow that was harder than it seems it should've been. Thank you. I guess what confused me was I was looking for a checkbox to say that withdrawl was exempt combined with the reason not being listed specifically when I entered an amount.
So I entered the amount:
How do I now attach the statement that provides the name, age, TIN of my twins? I entered them as dependents previously in TT (where all my kids are listed)--is that sufficient to meet this requirement?
I would think adding the twins to your tax return should offer sufficient proof. If the IRS does require more, you can submit a copy of Form 5329 on its own as well as copies of their birth certificates and social security cards. Please note that the distribution has to be made during the 1-year period beginning on the date your children were born to qualify for the exemption.
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