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david-a-wooddell

Level 2

Question

Substantially Equal Periodic Payment

Forum|Forum|2 years ago
January 20, 2024
2 replies
6 views

How do I enter the IRA early withdrawal exemption for Substantially Equal Periodic Payment (SEPP) for my 1099-R? It is not in the list of exemptions provided.

IRA

Level 15

It's there ... if you have a code 1 in box 7 on the 1099-R form then edit that section and follow all the screens in that section to find what you seek.

Level 15

After you have entered your 1099-R, continue with the TurboTax interview, and should arrive at a page asking Any Periodic payments. Answer Yes and continue with the interview and you should be exempted from the early withdrawal penalty. See attached screenshot.

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