Did you mean form 5329? This form is used to calculate penalties for 9 different situations, not just early withdrawals from a retirement plan. It also includes penalties on HSAs, MSAs, ABLE accounts, and Coverdell ESAs.
What lines have entries on the 5329?
Thank you. Yes sorry, form 5329. I have no entry in line 6 of schedule 2 in the 1040, which would prompt use of form 5329. I did not fill out a form 5329 either. I cant even determine how to see what form 5329 the turbotax completecheck is referencing.
If TurboTax isn't putting anything (not even a zero) on Schedule 2 line 6, you should be able to simply delete the Form 5329. Click on Tax Tools -> Tools -> Delete a form, then click the Delete link next "Form 5329" in the forms list.
Very helpful, thank you. I followed the process and it turns out I don't even have a form labeled "form 5329". Would there be another name for these. Forms 5329-S and 5329-T.
If it was present in your tax return, TurboTax would show a Form 5329 in the list as either Form 5329-T (for "Taxpayer") or Form 5329-S (for "Spouse"). The "T" and "S" are simply TurboTax's notations to identify the individual to whom the particular Form 5329 applies.
Ok well it seems like an error then, because those aren't visible and I don't have a spouse. Is there any other way I can clear that issue before filing? Thank you for the extended help.
It would be helpful if you could provide the exact wording of the message that TurboTax is providing. Specifically what aspect of Form 5329 are you being asked to correct?
Sure, When I use completecheck, these are the 4 messages
Form 5329-S: Your calculations could not be completed. Reference code:7-347-728
Form 5329-S: Your calculations could not be completed. Reference code:6-192-114
Form 5329-T: Your calculations could not be completed. Reference code:7-347-728
Form 5329-T: Your calculations could not be completed. Reference code: 6-192-114
I don't think I can help with that. Those messages seem like ones that would only make sense to a developer of TurboTax.