I entered my 1099-r which was coded for me to pay extra taxes it created a form 5329 which i need to in put a 72 t code on it not to pay extra tax how do i do it ?

[dmertz]

Are you saying that the distribution was made as a series of substantially equal periodic payments calculated to comply with the regulations for being eligible for penalty exclusion under section 72(t)?  If so, when TurboTax indicates, "Let's See If We Can Lower Your Tax Bill,"  enter the amount in the Equal periodic payments box on the next page.  You can reach this by going to Other Tax Situations -> Additional Tax Payments -> Extra tax on early retirement withdrawals.

[jdbandrmb]

yes i aim getting distributions under 72 t but my 1099-r is coded for me to pay the extra and creaated a 5329 form witch shows that i will pay extra penalty where on the from do i put the 72 t  code so i dont have to pay the extra ?

[macuser_22 · Accepted solution]

Nowhere on the form, in the interview after the 1099-R summary screen.

[JRR716]

I added the amount under equal and periodic payments, but it didnt reduce my tax debt.

Is there a software issue?

[RobertB4444]

@JRR716  No, it just means that the system had already assumed you had received equal and periodic payments because of the way your 1099-R is coded.