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New Member
posted Jan 20, 2024 5:46:41 AM

Substantially Equal Periodic Payment

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.

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2 Replies
Level 15
Jan 20, 2024 7:04:19 AM

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. 

 

 

Expert Alumni
Jan 21, 2024 8:22:16 AM

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.