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This is a continuation of my previous messages regarding distributions from Traditional IRA (Taxpayer) and Roth IRA (Spouse).
With regard to the Traditional IRA, Taxpayer received a 2019 Form 1099-R for a distribution received. I recorded it and it was fully taxed on their federal tax return. It was a Total Distribution with a 1 in the Distribution Code Box. He is under 591/2 years old.
On the Massachusetts return it was not taxed at all as the amount of his contributions over the years (more than 5) was greater then the distribution.
A 10% Additional Tax was also reflected on his Form 5329. He does not qualify for any of the exceptions.
I appreciate your feedback on this.
I will provide information on the Spouse's Roth IRA Distribution in a separate post.