Support Center1099-R with code 1 is being taxed on Form 5329 on a 1040 return in SureFire.
🔍 1099-R with code 1 is being taxed on Form 5329 on a 1040 return in SureFire
This guide shows you how to resolve the issue by entering the correct exception code and amount on Form 5329 so the calculation updates correctly on your return.
⚠️ Before You Begin
Make sure you have the information needed to enter:
- Exception code
- Amount listed in Box 1 that is not subject to additional tax
📊 Step-by-Step Guide
Step 1: Open Form 5329
Use this when you need to access the form where the exception code and amount must be entered.
Go to Form 5329.
Step 2: Enter the exception code and the Box 1 amount not subject to additional tax
Use this when you need to prevent the amount from being treated as subject to additional tax.
On Line 2, enter the exception code and the amount listed in Box 1 that is not subject to additional tax.
Step 3: Verify the updated calculation
Use this to confirm the change is reflected in the correct schedule.
The new calculation amount entered on line 4 will now display on Sch 2, line 6.
✅ Success!
After entering the exception code and the correct Box 1 amount on Form 5329, the updated calculation will display on Sch 2, line 6.
💡 More Information
For more information, see IRS Form 5329 Instructions.
📞 Still Need Help?
If you are having trouble, contact our support team:
Phone: 1-800-516-9442
Tags: federal,form