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R
roygoen
April 8, 2022
Question

Turbo Tax is saying Im penalized for early withdrawal from my IRA because I also have a pension. I'm 70 years old! Is this correct?

  • April 8, 2022
  • 2 replies
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2 replies

ColeenD3
ColeenD3
April 9, 2022

No. Go back through your entries and see if something is incorrect. You can also be subject to an early withdrawal penalty if you cash out a CD before its time.

SteamTrain
SteamTrain
Employee
April 9, 2022

Also,

...  double check your birthdate in the My Info section.   A fumble-finger in entering the year could have the wrong year in there.

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
    S
    SweetieJean
    Employee
    April 9, 2022

    withdrawal from my IRA because I also have a pension

     

    Did you accidentally record the distribution as an IRA contribution?

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