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I read that you dont have to have the 5329t if 1099r had a 1 in box 7. Which mine did.

Is there anyway to get past that part if my 1099r ha s a 1 in box 7

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dmertz
Level 15

I read that you dont have to have the 5329t if 1099r had a 1 in box 7. Which mine did.

Form 5329 is not required if all of your Forms 1099-R that have code 1 in box 7 are subject to the 10% early-distribution penalty.  Instead the penalty can be reported directly on Schedule 5 line 59.  If your penalty is reportable directly on Schedule 5 line 59, TurboTax will still show a From 5329 in your forms list but will not include this form in your filed tax return.  Since TurboTax uses the Form 5329 in the process of determining whether or not the distribution is subject to penalty and this form is not yet ready for filing, you might not yet be able to e-file.  If that's the case, you'll need to wait for Form 5329 to be ready.  This form is scheduled to be available in a day or two.

(Since either Form 5329 or Schedule 5 is required, you also won't be able to use the Free Edition of TurboTax if you have any Form 1099-R with code 1 in box 7.)

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dmertz
Level 15

I read that you dont have to have the 5329t if 1099r had a 1 in box 7. Which mine did.

Form 5329 is not required if all of your Forms 1099-R that have code 1 in box 7 are subject to the 10% early-distribution penalty.  Instead the penalty can be reported directly on Schedule 5 line 59.  If your penalty is reportable directly on Schedule 5 line 59, TurboTax will still show a From 5329 in your forms list but will not include this form in your filed tax return.  Since TurboTax uses the Form 5329 in the process of determining whether or not the distribution is subject to penalty and this form is not yet ready for filing, you might not yet be able to e-file.  If that's the case, you'll need to wait for Form 5329 to be ready.  This form is scheduled to be available in a day or two.

(Since either Form 5329 or Schedule 5 is required, you also won't be able to use the Free Edition of TurboTax if you have any Form 1099-R with code 1 in box 7.)

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