Can I fill out form 5329 in premium edition? I have "Additional Tax on Excess Accumulation in Qualified Retirement Plans"

[rjs · Accepted solution]

You can fill out Form 5329 in Premium if you have a Form 1099-R, so that you get to the questions about whether you received all the RMD that you were required to take for 2024. If you answer that you did not, it will lead you through completing Form 5329.

Unfortunately, there is a defect in the TurboTax interview that makes it impossible to fill out Form 5329 if you did not receive any 1099-R for 2024. The only way to fill it out is in forms mode, which is only available in the desktop TurboTax software, not in TurboTax Online. That means you would have to use the desktop software to file your 2024 tax return if you need to file Form 5329.