topic Re: Form 5329 in Get your taxes done using TurboTax

Form 5329

Gus — Tue, 24 Feb 2026 05:27:45 GMT

Suddenly TTax is including Ford 5329 in my parent's taxes. It never did this before. The reason is exception number 12 which says they took an IRA distribution before they were 591/2. My parents are in their 80's so I know this is wrong. The amount is from a 1099-R which is a dividend distribution from their IRA. I have checked my entries and they are all correct. Has anyone encountered this before?

thank you,

Gus

Re: Form 5329

hbl3973 — Tue, 11 Apr 2023 02:13:10 GMT

Hmmm. Check for any typos in the dates of birth for your parents.

Re: Form 5329

ThomasM125 — Tue, 11 Apr 2023 02:21:49 GMT

Codes 1 and 2 in box 7 on your Form 1099-R would indicate that the distribution was for an individual who was under the age of 59 1/2, so that could be where the error is comming from.

Re: Form 5329

Gus — Thu, 13 Apr 2023 22:26:40 GMT

Thanks everyone for your suggestions. It appears that I encountered a bug in TTax. I had forgotten a life insurance policy that my parent's collected last year. Although not taxed, TTax does ask about life insurance when you apply for the homestead credit in Michigan. When I checked the life insurance box that is when this form 5329 showed up. I tried deleting the 1099-R that was associated with the amount. Form 5329 remained. I tried not applying for the homestead credit. Form 5329 remained. I tried unchecking the life insurance policy in the list of questions it asks - I could not uncheck it. I could check and uncheck every other option, but not this one. I took drastic measures. I deleted the TTax file and started all over again. I did not apply for the homestead credit at all, since I knew my parents no longer qualified. Then everything worked fine.

I used to be able to get hold of someone at TTax - usually they are interested in such things. But I only got an automated response. Anyway, the taxes are done and filed. Thanks for your help and suggestions.

Re: Form 5329

hbl3973 — Fri, 14 Apr 2023 01:58:30 GMT

Gus,

Whew, not ideal, huh? I've reported this to the powers-that-be for assessment. I think you should consider using a desktop version next year. In that way you can examine, edit and/or delete forms directly if you want.

Re: Form 5329

hbl3973 — Fri, 14 Apr 2023 14:16:12 GMT

One of my TT connections pointed me to the article

https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-forms/view-delete-forms-turbotax-online/L7SZhwCHv_US_en_US?uid=lggkw8nv

which is directions for deleting unwanted forms from within TT online. Is that what you tried?