I want to add Form 5329 to my return. How can I add it? I took out my contributions to my Roth to put toward qualified education expenses so I want to file for exemption.

Forum|Forum|1 year ago
April 1, 2025
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My financial advisor marked J on the form. However, I should qualify for an exemption due to putting the money toward qualified education expenses so I want to file form 5329. However, I cannot find it on Turbotax. How can I find and upload it?

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AnnetteB6

When you entered the information from your Form 1099-R reporting the distribution from your Roth IRA, you should have seen some messaging on the screen if you owed any additional tax on the distribution for an early distribution penalty. If you did not see that message, then you are not paying any penalty and Form 5329 is not required to claim an exception.

You also mentioned in your question that you took out your contributions from the Roth IRA to pay for qualified education expenses. As long as your distribution did not exceed the contributions that you had made to the Roth IRA, then the distribution is not taxable or penalized as an early distribution.

That is one of the benefits of having a Roth IRA. You can take out your contributions at any time without tax or penalty.

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emilybwell9Author

Thank you! Do I need to upload proof somehow that I only took out my contributions (and not any earnings)? Do I have to show what I have contributed over the years?

AnnetteB6

You should see a question as you go through the Form 1099-R entry that asks about the basis of your Roth IRA or the contributions you have made to the account. That is where you enter the amount that you contributed over the years. That is the only thing you need to do. There is nothing else needed to show proof of the contributions. Just keep that information with your tax records.

@emilybwell9

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