What is the appropriate distribution code to use in box 7 regarding my 1099-R, if I used the maximum $10,000 for the purchase of my first home?

[titosyard]

I'd like to avail myself of the no tax/ penalty option since I believe my situation qualifies me. Thanks

[KatrinaB · Accepted solution]

There is no code in box 7 that indicates this exception to the 10% penalty. Once you enter in your form 1099-R, Turbo Tax will ask you questions to determine if you qualify for an exception. A first time home buyer exception will be one of the choices.

[titosyard]

Thank you, I thought this might be the case.

[KatrinaB]

You're welcome