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I was over 59.5 years old when I took $ out of my 401K. What do I put in Box under "These situations may lower your tax bill" ?

 
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2 Replies

I was over 59.5 years old when I took $ out of my 401K. What do I put in Box under "These situations may lower your tax bill" ?

It shouldn't be asking you that if you were over 59 1/2.  Better check your birthdate under My Info or Personal.  Or are you married?  Is your spouse younger?  Maybe you entered the 1099R under the spouse.  What code is in box 7?  

BillM223
Expert Alumni

I was over 59.5 years old when I took $ out of my 401K. What do I put in Box under "These situations may lower your tax bill" ?

As Volvogirl says, the screen you want is a different screen, but still in the screens after you enter the 1099-R data.

 

 

 

The screenshot above was from the desktop product, the Online product may vary.

 

In any case, when you see this screen, indicate that you did NOT take the money out before age 59 1/2.

 

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