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terhow
New Member

I have no idea why 5329-T came up on my final review. Should I just ignore it?

5329-T ism totally new to me. Why would 5329-T come up on final review?
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2 Replies

I have no idea why 5329-T came up on my final review. Should I just ignore it?

It's a penalty form you should find out why it was triggered by your situation and whether you agree with the additional tax, or whether it was due to an error you can fix.  If you are on Desktop go to Forms mode and review it directly.  If you using Online you should look in the PDF with all forms to see the details.

JamesG1
Employee Tax Expert

I have no idea why 5329-T came up on my final review. Should I just ignore it?

Review line 23 of the IRS form 1040.  You may also review Schedule 2 to see whether an additional tax and/or penalty has been assessed.  IRS form 5329 may allow you to reduce or eliminate the additional tax or penalty.

 

@terhow 

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