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michaelmwhitehead
February 23, 2025
Question

3 months of my pension were paid out before Age 59 1/2, and 9 months after 59 1/2. Do I check "early withdrawal" or "not early withdrawal"? There's no "both" category.

  • February 23, 2025
  • 1 reply
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    1 reply

    SteamTrain
    SteamTrain
    Employee
    February 23, 2025

    @michaelmwhitehead 

     

    For my pension, the provider issued two separate 1099-R forms.

     

    1) One for the time before age 59.5 with a code 2 in box 7   (that's for an exception to the early withdrawal).  Should be no penalty if you answer the follow-up questions properly.

    and

    2) a second one with a code 7 in box 7......for the months after age 59.5.

    _________________

    So you should have two 1099-R forms.  

    ____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
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