Turbo Tax is saying Im penalized for early withdrawal from my IRA because I also have a pension. I'm 70 years old! Is this correct?

roygoen · ‎April 8, 2022

ColeenD3 · ‎April 9, 2022

No. Go back through your entries and see if something is incorrect. You can also be subject to an early withdrawal penalty if you cash out a CD before its time.

SteamTrain · ‎April 9, 2022

Also,

... double check your birthdate in the My Info section. A fumble-finger in entering the year could have the wrong year in there.

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

SweetieJean · ‎April 9, 2022

withdrawal from my IRA because I also have a pension

Did you accidentally record the distribution as an IRA contribution?

Expert does your taxes

Do it yourself

Resources

Support

Turbo Tax is saying Im penalized for early withdrawal from my IRA because I also have a pension. I'm 70 years old! Is this correct?