Booger Posted February 26, 2009 Report Share Posted February 26, 2009 Client took an IRA distribution after he was 59 1/2. On Form 5329, I am going to use #12 (OTHER) as the exception to the 10% penalty. Return will be e-filed. I would like to include an explanation on why this distribution is not subject to the 10% penalty.....is there an "area" where I can attach such an explanation? 1099R was coded "1". Quote Link to comment Share on other sites More sharing options...
mcb39 Posted February 26, 2009 Report Share Posted February 26, 2009 Client took an IRA distribution after he was 59 1/2. On Form 5329, I am going to use #12 (OTHER) as the exception to the 10% penalty. Return will be e-filed. I would like to include an explanation on why this distribution is not subject to the 10% penalty.....is there an "area" where I can attach such an explanation? 1099R was coded "1". At the top of the page, go to Forms, drop down to Lists, Open Lists and click on Create Statement Quote Link to comment Share on other sites More sharing options...
Booger Posted February 26, 2009 Author Report Share Posted February 26, 2009 Thanks, mcb39. Grateful Booger Quote Link to comment Share on other sites More sharing options...
kcjenkins Posted February 26, 2009 Report Share Posted February 26, 2009 Client took an IRA distribution after he was 59 1/2. On Form 5329, I am going to use #12 (OTHER) as the exception to the 10% penalty. Return will be e-filed. I would like to include an explanation on why this distribution is not subject to the 10% penalty.....is there an "area" where I can attach such an explanation? 1099R was coded "1". Alos, you could use the last tab, where you enter 'r9ollover explanations' to be sure it goes with the 1099R info. I'm not sure if the 'lists' go with an efiled return. Of course, if it's paper, no problem. But really, you are doing it perfectly now, so really you don't need to do anything else, unless you just want to. Quote Link to comment Share on other sites More sharing options...
samingeorgia Posted February 26, 2009 Report Share Posted February 26, 2009 I would suggest to the client that he go to the IRA custodian and for them to fix the 1099R -- why should you have to do extra work because they don't know their customers? Quote Link to comment Share on other sites More sharing options...
taxperson Posted February 27, 2009 Report Share Posted February 27, 2009 There is also a page in the Efile Info for Preparer Notes that gets transmitted. Quote Link to comment Share on other sites More sharing options...
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