It keeps mentioning a 5329-T form, what is that?

[Critter-3]

Tax Form 5329 is used to report additional taxes on IRAs and other qualified retirement plans. An individual needs to complete this form if he or she receives income as a distribution from a retirement plan. Failure to fill out Form 5329 correctly may force you to pay more taxes than you owe.

https://www.irs.gov/pub/irs-pdf/i5329.pdf

[npierson7]

Form 5329-T reports Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts. It is automatically generated when you become liable for the taxes due.

To access the form to enter information follow these steps:

Federal - Other tax situations.

Scroll down to Additional Tax Payments.

Click on Start  / Revisit on Extra tax on Extra tax on early retirement withdrawals.

The most common use of form 5329 is to waive exceptions to the 10% penalty for early withdrawal of a pension distribution.