Information about Form 5329, Additional Taxes on Qualified Plans (including IRAs) and Other Tax-Favored Accounts, including recent updates, related forms and instructions on how to file. Form 5329 is used by any individual who has established a retirement account, annuity or retirement bond.

Part I Additional Tax on Early Distributions. Complete this part if you took a taxable distribution (other than a qualified disaster distribution) before you reached age 591⁄2 from a qualified retirement plan (including an IRA) or modified endowment contract (unless you are reporting this tax directly on Schedule 2 (Form 1040)—see above). You …

Instead, see the instructions for Schedule 2 (Form 1040), line 8, in the Instructions for Form 1040, or the Instructions for Form 1040-NR, for how to report the 10% additional tax directly on that line.

2022年1月8日 · 5- Enter "continue" and Turbotax will automatically add and fill in for you form 5349 which you will not see unless you go to "Forms" and the 5329 form will appear with the last section f of the form filled in.

Certain retirement account transactions require you to fill out an additional form with the IRS. Here's when you might need a Form 5329 and how to complete this document.

2024年4月25日 · The IRS uses Form 5329 to report additional taxes on qualified retirement plans, including IRAs and other tax-favored accounts.

2025年3月21日 · IRS Form 5329 must be filed by taxpayers who may owe a penalty for breaking the rules regarding tax-advantaged retirement, education, and health savings accounts.

From within your TaxAct® return (Online or Desktop), click Federal. On smaller devices, click the menu icon in the upper left-hand corner, then select Federal. Click Retirement Plan Income in the Federal Quick Q&A Topics menu to expand the category and then click [Taxpayer or Spouse] Additional taxes on qualified plans (Form 5329) Click Review next to …

2020年3月16日 · TurboTax will generate form 5329 when you enter your 1099-R and answer the questions regarding the RMD.. To check if the form is prepared on TurboTax online: Select Tax Tools then Tools from the left menu. Select Delete a form. Scroll down and look for form 5329.

If your Form 1099-R distribution was for any of the reasons listed below, it is generally exempt from additional penalties for an early withdrawal. If any of the exceptions apply, you may enter an exemption; go to: Federal Section Other Taxes Additional Taxes on Qualified Plans and Other Accounts, Reported on Form 5329 Enter the amount that …