https://ttlc.intuit.com/community/taxes/discussion/form-5329-being-generated-in-error-2024/01/3509962#M1298823 <P>Someone else had a similar post and ended up deleted their form 5329 before filing, but I am including the question/post here for others that may have the same issue.&nbsp; My parents have two 1099Rs for IRAs and two for 1099Rs pensions.&nbsp; They are both over 59 1/2, Box 7s both show ONLY a "7" normal distribution for the pensions.&nbsp; There are no codes.&nbsp; They have been taking these distributions for years.&nbsp; This year, TT is generating a Form 5329 that has Line L completed with the amount of the respective amount in Box 1 of the 1099R.&nbsp; Box 1 of the form 5329 is blank.&nbsp; &nbsp;Line L is for "incorrect early distribution".&nbsp; The IRS instructions for this Form state that is to be used when code 1, J or S are included in Box 7 of the 1099R.&nbsp; They do not have any of these codes.&nbsp; Box 2 of Form 5329 "Early distributions not subject to additional tax..." has the exact amount from Line L above along with code "12."&nbsp; So, the form nets to nothing additional being taxed, but it still gets generated and is supposed to be filed along with the return.&nbsp; This is being generated in error unless there is something being done on the input side to trigger it.&nbsp; Turbo Tax needs to fix it.</P> Sun, 23 Feb 2025 21:29:28 GMT ampalo 2025-02-23T21:29:28Z https://ttlc.intuit.com/community/taxes/discussion/form-5329-being-generated-in-error-2024/01/3509962#M1298823 <P>Someone else had a similar post and ended up deleted their form 5329 before filing, but I am including the question/post here for others that may have the same issue.&nbsp; My parents have two 1099Rs for IRAs and two for 1099Rs pensions.&nbsp; They are both over 59 1/2, Box 7s both show ONLY a "7" normal distribution for the pensions.&nbsp; There are no codes.&nbsp; They have been taking these distributions for years.&nbsp; This year, TT is generating a Form 5329 that has Line L completed with the amount of the respective amount in Box 1 of the 1099R.&nbsp; Box 1 of the form 5329 is blank.&nbsp; &nbsp;Line L is for "incorrect early distribution".&nbsp; The IRS instructions for this Form state that is to be used when code 1, J or S are included in Box 7 of the 1099R.&nbsp; They do not have any of these codes.&nbsp; Box 2 of Form 5329 "Early distributions not subject to additional tax..." has the exact amount from Line L above along with code "12."&nbsp; So, the form nets to nothing additional being taxed, but it still gets generated and is supposed to be filed along with the return.&nbsp; This is being generated in error unless there is something being done on the input side to trigger it.&nbsp; Turbo Tax needs to fix it.</P> Sun, 23 Feb 2025 21:29:28 GMT https://ttlc.intuit.com/community/taxes/discussion/form-5329-being-generated-in-error-2024/01/3509962#M1298823 ampalo 2025-02-23T21:29:28Z