Question

Turbo tax keeps checking early withdrawal. Ive gone back and changed it many times. Moving forward says early withdrawal. I go back sure enough it changed back change again same thing over and over.

Forum|Forum|6 years ago
April 24, 2020
1 reply
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TurboTax Free Edition Online

GiseleD

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M

mesquitebean

Employee

Early withdrawal of what??

For instance is it a 1099-INT for a CD with an early withdrawal penalty?

Or are you entering a 1099-R that was an early distribution?

And what exactly do you keep changing that TurboTax keeps reverting?

If it's from a 1099-R, what kind of retirement plan, and what is the distribution code in Box 7 of the 1099-R? Is the IRA/SEP/SIMPLE box checkmarked?

If you have an early withdrawal penalty from a retirement plan due to an early distribution, that situation cannot be handled in Free Edition and would require the Deluxe Edition (a paid edition) or the other free product if you qualify (TurboTax IRS Free File Program).