Skip to main content
TurboTax
Community
TurboTax
Community
TurboTax
Community
T
taxesohmy2017
Employee
March 26, 2022
Question

Received 1099-R box 7 code 1D for non qualified annuity - where to add 10% penalty on Form 5359

  • March 26, 2022
  • 1 reply
  • 0 views

I received a 1099-R box 7 equals 1D for non qualified annuity.

Box 1 had $8600
Box 2a shows $3652

Box 4 Federal W/H shows $365

 

I am under 59 1/2 and from my understanding, there will be penalty of 10% because I am under 59 1/2.  My question is what Part of Form 5359 should I place the penalty - Part I or Part II

 

Thank you

1 reply

ColeenD3
ColeenD3
March 26, 2022

You do not place the penalty. The program will do this when you enter all the information. Copy the 1099-R exactly as it appears.

    TurboTax Sign In Widget
    TurboTax flag icon

    Unlock tailored help options in your account

    Create an account
    TurboTax Expert Assist
    TurboTax Expert

    Get answers to all your tax questions

    Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Expert Assist.

    Terms & ConditionsAccessibility statement
    Intuit
    TurboTax Credit Karma QuickBooks MailChimp

    ©1997-2022 Intuit, Inc. All rights reserved.
    Intuit, QuickBooks, QB, TurboTax, ProConnect, and Mint are registered trademarks
    of Intuit Inc. Terms and conditions, features, support, pricing, and service options
    subject to change without notice.

    Security Certification of the TurboTax Online application has been performed by
    C-Level Security.

    By accessing and using this page you agree to the Terms of Use.

    Accessibility

    TRUSTe nResult Certified e-File C-Level Security Certification