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which of the following form 5329 penalty exemption codes does not apply to IRA's.

which of the following form 5329 penalty exemption codes does not apply to IRA's.

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Expert Solution

Following Form 5329 penalties exemption code does not apply to IRA's

01. distributions from a qualified retirement plan after separation from employment and after reaching age 55

02. distribution made as a part of series of substantial equal periodic payment made at least annually

This distribution must be for:-

°your life for the life expectancy

°the joint live or Joint life expectancy of you and your designated beneficiary

03. Distribution due to total and permanent disability

04. Distribution due to death. This does not apply to modified endowment contract

05. Qualified retirement plan distribution that:

° where used to pay deductible unreimburesed medical expenses

°exceed 10% of your adjusted gross income

06. qualified retirement plan distribution under a qualified domestic relation order

07. I r a distribution made to individual to wear on unemployment compensation for 12 consecutive week to pay for the health insurance premiumm

08. I r a distribution made for higher education expenses

09. I r a distribution me to buy your first home up to $10000

10. Distribution due to an IRS levy on a qualified retirement plan

11. qualified distribution to reservist while serving on activity Duty for at least 180 days

ekkarill92 answered 2 years ago
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