My Inherited IRA is not subject to the 20% penalty early withdrawal but your program seems to have applied the 20% penalty.

ironpickle · ‎June 4, 2019

macuser_22 · ‎June 4, 2019

There is no 20% penalty. You do have to pay the normal tax. If you are in the 20% tax bracket that would be the tax.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

View solution in original post

macuser_22 · ‎June 4, 2019

What code is in box 7?

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

macuser_22 · ‎June 4, 2019

There is no 20% penalty. You do have to pay the normal tax. If you are in the 20% tax bracket that would be the tax.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

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My Inherited IRA is not subject to the 20% penalty early withdrawal but your program seems to have applied the 20% penalty.