The penalty is in Box 2 of one of my 1099-INT forms. Should I report this penalty of $8.75 elsewhere to avoid paying $39.99 for an already completed return? If I remove the $8.75 from that box it allows me to proceed normally and my refund totals do not change. In this case, is this $8.75 necessary to report?
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It is to your benefit to report the $8.75 early withdrawal penalty. However, you are not required to report it.
It is to your benefit to report the $8.75 early withdrawal penalty. However, you are not required to report it.
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