Re: I am being charged a early withdraw 10% tax on my RMD and am 73 years old. Is box 7 on my 1099 R incorrect?

I am being charged a early withdraw 10% tax on my RMD and am 73 years old. Is box 7 on my 1099 R incorrect?

posted

The box 7 code should be "7" - what is it?

In any event, if your date of birth is properly entered in the Personal Information, then there should not be any penalty applied.

**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.**

And where do you see that you are being assessed any early-distribution penalty? Any early-distribution penalty would appear on 2019 Schedule 2 line 6.