A withdrawal was made on a 401 K at the age of 59 1/2. When checking the box that the withdrawal was taken out after age 59 1/2. Turbo tax keeps switching it back to before age 59 1/2. Can anyone help?
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What is the Code in Box 7 of your 1099-R? Code 1 = early distribution.
Also, 59 1/2 means on or after the exact date you turned 59 1/2. For example, if your 59th birthday was June 1st, then you attained age 59 1/2 on December 1st. A distribution before December 1st would be considered "early".
TurboTax only asks this question to determine what question to ask next, so it does not record your original answer at all.
The code in box 7 is 7. Normal distribution
So it doesn't matter what this box says when I go back then correct?
Just answer correctly and proceed.
Thank you!
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