topic My husband is 61 and took a distribution from his IRA. TurboTax is saying that he needs to pay a 10% penalty because he is less than 59 1/2. How do I get this changed? in Retirement tax questions

My husband is 61 and took a distribution from his IRA. TurboTax is saying that he needs to pay a 10% penalty because he is less than 59 1/2. How do I get this changed?

mbyers1432 — Sun, 14 Mar 2021 23:31:17 GMT

Re: My husband is 61 and took a distribution from his IRA. TurboTax is saying that he needs to pay a 10% penalty because he is less than 59 1/2. How do I get this changed?

Critter-3 — Sun, 14 Mar 2021 23:33:48 GMT

First of my info tab make sure you have the correct date of birth for him then in the 1099 entry section please make sure you've indicated it's his 1099 -R and not yours.

Re: My husband is 61 and took a distribution from his IRA. TurboTax is saying that he needs to pay a 10% penalty because he is less than 59 1/2. How do I get this changed?

mbyers1432 — Sun, 14 Mar 2021 23:46:22 GMT

Thank you for the information. I confirmed and re-entered his date of birth and verified that the 1099-R is for him and I am still receiving the following message:

Double check Box 7 and the IRA box on your 1099-R

Code 7 indicates a normal distribution, which is unusual because you aren’t 59 1/2 yet and you also checked the IRA/SEP/SIMPLE box.

Re: My husband is 61 and took a distribution from his IRA. TurboTax is saying that he needs to pay a 10% penalty because he is less than 59 1/2. How do I get this changed?

dmertz — Mon, 15 Mar 2021 00:37:29 GMT

If you are under age 59½, make sure that you have tagged the 1099-R in TurboTax as being his 1099-R and not yours. (This is likely the issue.)