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I just had a lengthy discussion with TMFPMarti over at the Tax Strategies board. Bottom line is he says you don't need to file Form 5329 if you take an early distribution from your IRA that is not subject to the 10% penalty and your Form 1099-R is properly coded in box 7.

He agreed to notify the IRS that their Form 5329 instructions need clarification and I agreed to post a link to the thread here for anyone interested. I thought you'd be interested because of your coverage of the topic on REHP. Thanks.


(x-posted to RELE)
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