MargaretMort Posted April 9, 2010 Report Share Posted April 9, 2010 Here I am again! Client received a 1099-R for total distribution of his 401-K. The distribution code is 1. He is 64 yrs old, why would he have to pay 10% penalty? If I am right, do I just change the code? I didn't find anything that indicated this was a premature distribution. This was a company plan and the company closed it. Thanks as always. MM Quote Link to comment Share on other sites More sharing options...
ljwalters Posted April 9, 2010 Report Share Posted April 9, 2010 use the 5329 and use code 1 on line 2 of part I Linda and buddy Quote Link to comment Share on other sites More sharing options...
MargaretMort Posted April 10, 2010 Author Report Share Posted April 10, 2010 Thanks, Linda and Buddy! Solved my problem quickly. May your rest be restful and give you strength to carry on for the next 7 days. MM Quote Link to comment Share on other sites More sharing options...
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