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tyjan46
New Member

I am being charged a early withdraw 10% tax on my RMD and am 73 years old. Is box 7 on my 1099 R incorrect?

 
2 Replies
macuser_22
Level 15

I am being charged a early withdraw 10% tax on my RMD and am 73 years old. Is box 7 on my 1099 R incorrect?

The box 7 code should be "7" - what is it?

 

In any event, if your date of birth is properly entered in the Personal Information, then there should not be any penalty applied.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
dmertz
Level 15

I am being charged a early withdraw 10% tax on my RMD and am 73 years old. Is box 7 on my 1099 R incorrect?

And where do you see that you are being assessed any early-distribution penalty?  Any early-distribution penalty would appear on 2019 Schedule 2 line 6.

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