Distribution over age 59 1/2

thadie1956 — Thu, 06 Jun 2019 10:29:03 GMT

I couldn't find where to indicate that I was over 59 1/2 when I received a distribution. Beside (Another Reason) I can't add anything to the box.

If the code in box 7 of Form 1099-R has code 1 and you we...

Phillip1 — Thu, 06 Jun 2019 10:29:04 GMT

If the code in box 7 of Form 1099-R has code 1 and you were over the age of 59.5 at the time of the distribution, you can apply the exception by following these instructions:

Go to the Federal Taxes category.
Go to the Wages and Income section.
Choose the option "I'll choose what I want to work on".
Find the “Retirement Plans and Social Security” section and click Show more.

Click revisit or start on the IRA, 401(k), Pension Plan Withdrawals (1099-R) line.

Click edit on the 1099-R that has the early withdrawal code.

Go through the entry screens and questions and make your entries and answer all of the questions until the program brings you back to the screen with your 1099-Rs list that is labeled “Your 1099-R Entries”.

Click continue. The program should pop open a screen labled “Let's See If We Can Lower Your Tax Bill”. Click continue.

“Identify the Plan” on the following screen. The plan is most likely a qualified plan. If so, click on that option and hit continue.

On the screen labeled “These Situations May Lower Your Tax Bill” enter the full amount of the distribution on the line labeled “Other (including being over age 59 1/2)”.

topic Distribution over age 59 1/2 in Retirement tax questions

Distribution over age 59 1/2

If the code in box 7 of Form 1099-R has code 1 and you we...