If you receive your military retirement as a pension (in equal periodic payments), then it is not subject to the early retirement penalty of 10%, even if you are aged less than 59 1/2. Please this TurboTax Help article for more information. In TurboTax Online, please follow these steps: After you have entered all your forms 1099-R, on the summary page Review your 1099-R Info, click Continue Follow the interview until you arrive at the page titled These situations may lower your tax bill. Enter the amount of your distribution in the box next to Equal Periodic Payments and click Continue Your early withdrawal penalty will be waived.

Question

Is my military retirement income subject to an additional 10% tax if I'm below the age of 60. Turbotax is very confusing about this.

Forum|Forum|1 year ago
March 23, 2025
1 reply
0 views

No text available

M

MinhT1

If you receive your military retirement as a pension (in equal periodic payments), then it is not subject to the early retirement penalty of 10%, even if you are aged less than 59 1/2.

Please this TurboTax Help article for more information.

In TurboTax Online, please follow these steps:

After you have entered all your forms 1099-R, on the summary page Review your 1099-R Info, click Continue
Follow the interview until you arrive at the page titled These situations may lower your tax bill.
Enter the amount of your distribution in the box next to Equal Periodic Payments and click Continue
Your early withdrawal penalty will be waived.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"