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Ed Johnson
Ed Johnson, Tax Preparer
Category: Tax
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Experience:  GPHR Cert; U.S. Treasury Tax Advocacy Panel appointee
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What is a Distribution Code 7, in block 7 of a 1099-R ...

Resolved Question:

What is a Distribution Code 7, in block 7 of a 1099-R as concerns an amount withdrawn from a SEP Ira? The withdrawal was after I attained age 59 1/2.
Submitted: 9 years ago.
Category: Tax
Expert:  Ed Johnson replied 9 years ago.


Code 7 means you have a normal distribution, so it is not likely to be subject to any early withdrawal penalties.

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