First time home buyer
My client took and early ditribution from a pension plan to buy his first home. Since the 1099r shows code 1 how do I show it so he does not have the ten percent early withdrwl penalty?
My client took and early ditribution from a pension plan to buy his first home. Since the 1099r shows code 1 how do I show it so he does not have the ten percent early withdrwl penalty?
It goes on Form 5329. There should be a link on the 1099-R input page, but there isn’t. You need to enter it manually on the Form5339 under the first time homebuyer exemption.
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