Denise, NC CPA
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Any updates to this topic?
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Has anyone heard of any updates to how to file for the 10% early withdrawal penalty? I know there has been much discussion, such as changing box 7 on the Form 1099-R from a 1 to a 2 2, then completing the Form 5329, and I've heard people say leave it a 1, file Form 5329 to claim it as Other, and leave it alone for now and wait for guidance, which I can't find any. When I went to the IRS website for the latest Form 5329, it says it is still a draft, and do not file. Any thoughts or findings?