topic Re: How do I clear this error? FORM 5329-S: Your calculations could not be completed. Reference code: 1-998-803? I don't have any 1099-R, 1099-SA, and 1099-Q either in Retirement tax questions

How do I clear this error? FORM 5329-S: Your calculations could not be completed. Reference code: 1-998-803? I don't have any 1099-R, 1099-SA, and 1099-Q either

scase122 — Tue, 02 Feb 2021 03:36:19 GMT

Re: How do I clear this error? FORM 5329-S: Your calculations could not be completed. Reference c...

LinaJ2020 — Tue, 02 Feb 2021 03:55:54 GMT

Form 5329 "Additional Taxes on Qualified Plans" is generated when you withdraw funds from your retirement plans including IRA before you reach age 59 1/2. It will calculate an early penalty of 10% of your distribution unless you meet one of the exceptions. For details, click here: Early withdrawal exceptions

It sounds like some related information might have been carried over from last year. If this form does not apply to you, you can simply remove it from the program. Here are the steps:

in TurboTax online,

1. Sign into your account, select Pick up where you left off

2. Select Tax Tools, click on the drop down arrow

3. Select Tools

4. Under Other helpful links, choose Delete a form

5. Select Delete next to the Form 5329 and Continue with My Return

Re: How do I clear this error? FORM 5329-S: Your calculations could not be completed. Reference c...

RaynaAllen10 — Tue, 16 Feb 2021 21:45:42 GMT

I tried this step however form 5329 is not showing up in my “delete a form” list

Re: How do I clear this error? FORM 5329-S: Your calculations could not be completed. Reference c...

PattiF — Tue, 16 Feb 2021 22:00:45 GMT

This is a known issue. Please see the following information:

Form 5329

Re: How do I clear this error? FORM 5329-S: Your calculations could not be completed. Reference c...

RaynaAllen10 — Tue, 16 Feb 2021 22:43:37 GMT

Thank you for your quick response. I understand its a known issue, however i have gone through the process in the original post and already done research on what the form is. Your customer service help desk said to wait a few days, but after we hung up i received an email stating the problem has been fixed. It has not been.

Re: How do I clear this error? FORM 5329-S: Your calculations could not be completed. Reference c...

LinaJ2020 — Tue, 16 Feb 2021 23:12:54 GMT

The issue has been submitted and is currently under investigation. Please click on the following link and sign up for an email notification when it's fixed.

Form 5329

Thank You for your patience

If you take a distribution from a retirement plan before age 59 1/2, you must pay the 10% additional tax for the IRA amounts you withdrew. However, if you qualify for an exception on Form 5329, you do not need to pay.

For more information, click here: https://www.irs.gov/pub/irs-pdf/i5329.pdf

Re: How do I clear this error? FORM 5329-S: Your calculations could not be completed. Reference code: 1-998-803? I don't have any 1099-R, 1099-SA, and 1099-Q either

baileycash97 — Thu, 25 Feb 2021 02:57:45 GMT

Any updates? I locked in a payment to avoid the price hike and now I can't file my returns with someone else without wasting money. Very annoying.

Re: How do I clear this error? FORM 5329-S: Your calculations could not be completed. Reference c...

MichelleLO — Thu, 25 Feb 2021 21:53:36 GMT

Unfortunately, this is still under investigation. If you signed up for notifications in the article provided above, you will be notified when the issue has been resolved. Thank you for your patience.

Re: How do I clear this error? FORM 5329-S: Your calculations could not be completed. Reference code: 1-998-803? I don't have any 1099-R, 1099-SA, and 1099-Q either

reallyhhh — Wed, 02 Mar 2022 01:47:38 GMT

According to https://www.irs.gov/pub/irs-pdf/i5329.pdf

it states that the use of Form 5329 is to report additional taxes on:

• IRAs,
• Other qualified retirement plans,
• Modified endowment contracts,
• Coverdell ESAs, (1099-Q)
• QTPs,
• Archer MSAs,
• HSAs, or
• ABLE accounts.

Based on personal experience, even if the distributions are tax-free ( aka money you receive ) they still can be taxed. Specifically, let's say you had a Coverdell ESA's ( like an Educational Prepaid Program ), if the expenses of the school are less than what you received you will be taxed on the portion not going toward your education.

For example, you get $4,000 from a Prepaid Contract but the college expenses are only $2,000. The remaining 2000 dollars will be taxed. This scenario can be applied to similar situations, such as IRA's or QTP's where only a certain amount or percentage is tax-free.

So let's go over it one more time, Form 5329 is used to report "additional" taxes. This is why it may pop up and stop you from using the free version. Some forms come with instructions, I highly suggest reading it as it generally tells you if you will have to use a 5329, or type in "www.irs.gov/(your form code) and read the instructions there.

Now do I think Turbo Tax should charge 119 dollars for this one tax form you have no control over... no, no I do not. I'm furious and don't agree with this system at all. Makes me not want to use Turbo Tax at all. But I want to help others in my situation and try to provide guidance with the little knowledge I've learned.

Re: How do I clear this error? FORM 5329-S: Your calculations could not be completed. Reference code: 1-998-803? I don't have any 1099-R, 1099-SA, and 1099-Q either

bjmc27 — Sun, 10 Apr 2022 21:42:35 GMT

Please help me fix this glitch with 5329-s. There is nothing wrong in my 1099s or my address/state but it wants a foreign code. I keep having trouble with tubotax this year.

I can't find the tool drop down box to remove the form and can't file. I have looked over all the data several times and my info is correct.

Re: How do I clear this error? FORM 5329-S: Your calculations could not be completed. Reference code: 1-998-803? I don't have any 1099-R, 1099-SA, and 1099-Q either

bjmc27 — Sun, 10 Apr 2022 21:43:17 GMT

I can't find tax tools to remove this form.

Re: How do I clear this error? FORM 5329-S: Your calculations could not be completed. Reference c...

FangxiaL — Sun, 10 Apr 2022 22:09:28 GMT

To go to the forms list:

Go to Tax Tools >> Tools to open the Tools Center
Click on Delete a form
Scroll down the list of forms to locate Form 5329-S and select Delete next to the form.

@bjmc27