#FUCK YOU XEE LO CODE#
If the distribution code entered is "4G" or "4H", the gross amount of the distribution carries to Form 1040, line 15a or 16a and the taxable amount is considered zero unless specifically overridden. If the distribution code entered is "4P" the distribution carries to Form 1040, line 15 or 16 as a pension or IRA distribution, but read the following caution. Note: If this distribution is eligible for the 10-year tax option on Form 4972, the distribution should not be entered here, but instead entered on the Tax on Lump-Sum Distributions worksheet. If the distribution code entered is "4A", the distribution carries to Form 1040, line 15 or 16 as a taxable pension or IRA distribution, but read the following note. If the distribution code entered is "4B" or "4D", the distribution carries to Form 1040, line 16 as a taxable pension distribution. If the distribution code entered is "4", "48", "4K" or "4L", the distribution carries to Form 1040, line 15 or 16 as a taxable pension or IRA distribution. If the "X if IRA/SEP/SIMPLE plan" field is marked or "X if IRA" field is marked, the distribution always carries to the Form 1040, line 15 as an IRA distribution. If the distribution code entered is "3" or "3D", the" X if IRA/SEP/SIMPLE plan" field is left blank and "X if IRA" field is left blank, and the individual making the distribution is under age 65, the taxable amount of the distribution carries to Form 1040, line 7 as wages and not to Form 1040, line 16 as a pension distribution. If the Form 5329 is desired, an entry must be made in the "Form 5329 code" field under the Retirement Plan Taxes section, but read the following caution. If the distribution code entered is "2P", the taxable amount of the distribution carries to Form 1040, line 15 or 16 as a pension or IRA distribution. If the Form 5329 is desired, an entry must be made in the "Form 5329 code" field under the Retirement Plan Taxes section. If the distribution code entered is "28" or "2K", the taxable amount of the distribution carries to Form 1040, line 15 or 16 as a pension or IRA distribution and no Form 5329 is prepared. If the distribution code entered is "2B" or "2D", the taxable amount of the distribution carries to Form 1040, line 16 as a pension distribution and no Form 5329 is prepared. Note: If this distribution is a Roth IRA conversion, the distribution should be entered in the Roth IRA Information section > Total distributions converted to Roth IRAs field. No Form 5329 is prepared and the distribution carries to Form 1040, line 15 or 16 as a pension or IRA distribution, but read the following note. If the distribution code entered is "2", the taxable amount of the distribution is assumed as an early distribution with a known exception. An amended return may be necessary and the distribution should not be entered in 2017. Per the federal instructions, the distribution should be taxed in the year the contributions were made. To subject it to the 10% early distribution penalty, an entry must be made in the "Form 5329 code" field under the Retirement Plan Taxes section, but read the following caution.Ĭaution: A code of P means this is a distribution from contributions made in a prior year. If the distribution code entered is "1P", the taxable amount of the distribution carries to Form 1040, line 15 or 16 as a pension or IRA distribution. It also carries to Form 1040, line 16 as a pension distribution. If the distribution code entered is "1L", the taxable amount of the distribution carries to Form 5329, line 1 and subjected to the 10% penalty calculation. To subject it to the 10% early distribution penalty, an entry must be made in the "Form 5329 code" field under the Retirement Plan Taxes section. If the distribution code entered is "18" or "1K", the taxable amount of the distribution carries to Form 1040, line 15 or 16 as a pension or IRA distribution. If the distribution code entered is "1B" or "1D", the taxable amount of the distribution carries to Form 1040, line 16 as a pension distribution. Otherwise, the Form 5329 is not prepared. If the Form 5329 is prepared due to other early distributions, this entry also carries to that form. If the distribution code entered is "1", the taxable amount of the distribution is subjected to the 10% penalty calculation on Form 1040, line 59 and carried to Form 1040, line 15 or line 16 as a pension or IRA distribution.