Is it possible to get into From 5329 and enter a number? I need to access Line 2 and enter a dollar amount and an exemption number.

My 1099R has the wrong distribution code and am unable to get the issuer to correct it. TurboTax does not give me to option on the "These Situations May Lower Your Tax Bill' screen (which I believe is the turbotax version of the 5329) to enter exemption 1 and the dollar amount.

1878

Expert Alumni

Jan 29, 2025 3:26:05 PM

I believe you are referring to the option listed first below, equal periodic payments:

To see that you would need to enter a code in box 7 that would have your distribution subject to a penalty, such as code 1 for early distribution. Can you clarify what code you are putting in box 7 and also what code is listed on your 1099-R form?

Why sign in to the Community?

Is it possible to get into From 5329 and enter a number? I need to access Line 2 and enter a dollar amount and an exemption number.