Skip to main content
TurboTax
Community
TurboTax
Community
TurboTax
Community
D
danmc256
February 28, 2025
Question

Are any other seniors seeing an early withdrawal penalty as an adjustment to income on their 1040SR that they are unbale to validate?

  • February 28, 2025
  • 2 replies
  • 0 views
No text available

    2 replies

    B
    BillM223
    February 28, 2025

    Do you want to describe to us your situation? Perhaps we can help.

     

    Tell us about your age at the end of 2024, and what was on your 1099-R.

    **Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"
    D
    danmc256Author
    February 28, 2025

    We are both in our 60's. There is no early withdrawl on any of our 1099 R's 

    VolvoGirl
    VolvoGirl
    Employee
    February 28, 2025

    Are you asking about a early withdrawal penalty on an account like from a  CD or the 10% early withdrawal penalty for taking a IRA or 401K distribution?

     

    For 1099 INT check your 1099 INT interest forms for box 2.  You get to deduct the penalty.

     

    For IRA withdrawals check your date of birth under My Info or Personal Info.  

     

    D
    danmc256Author
    February 28, 2025

    Our birthdates are accurate in the personal info section

    D
    danmc256Author
    February 28, 2025

    System Error?

     

    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