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jennbomm
New Member

I am having a hard time finding how to I put the Ira withdrawal exemption for child birth

 
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3 Replies
DawnC
Employee Tax Expert

I am having a hard time finding how to I put the Ira withdrawal exemption for child birth

Enter your 1099-R exactly as it appears.   After you enter all of your 1099-R forms, you will be asked follow-up questions about those distributions.   It is in the follow-up questions where you will indicate the exception.   Distributions up to $5,000 per child for qualified birth or adoption expenses will not incur the 10% penalty.   IRS exceptions to tax on early distributions

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jennbomm
New Member

I am having a hard time finding how to I put the Ira withdrawal exemption for child birth

I am looking at the list and it does not have any other exemptions outside disaster exemptions. Do I need deluxe for this option?

CatinaT1
Employee Tax Expert

I am having a hard time finding how to I put the Ira withdrawal exemption for child birth

Do you have a child on your return that was born in 2023 or that you show adopted in 2023?

 

On your 1099-R, is there an amount in box 2, and are either of the check boxes marked for Taxable amount not determined, or IRA/SIMPLE/SEP?

 

The question will come up after you finished entering all 1099-R's. 

 

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