I spoke to Vanguard (where I have my IRA), and they said that in May they will report to the IRS that it was a rollover, and therefore it is not considered an early withdrawal. However, TurboTax automatically is including the penalty. How do I change this? Thank you!
You'll need to sign in or create an account to connect with an expert.
Ok ... after you enter the 1099-R you must continue thru all the following screens in that section and indicate it was a rollover ... once you do that the penalty will go away.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
bmwnuke
New Member
karenclyons
New Member
tsurisha
New Member
rkeeton88
New Member
youngbuck4202
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.