Where do I enter Form 5329 to show an exception to the 10% penalty on an early retirement distribution?
Menu Path: Income > Common Income > Retirement Income (1099-R)
Form 5329 will automatically be a part of your tax return if it is needed. Form 5329 is usually only needed if you have a 1099-R with code 1 in Box 7 that is subject to the 10% early withdrawal penalty. The penalty can be reduced if you enter a reason why it should not apply.
Form 5329 will automatically be a part of your tax return if it is needed. Form 5329 is usually only needed if you have a 1099-R with code 1 in Box 7 that is subject to the 10% early withdrawal penalty. The penalty can be reduced if you enter a reason why it should not apply.
