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IRS audit

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ByTK

L1: IRS auditDoes taking 72(t) distributions trigger an IRS audit flag? 2002-08-22 23:47, By: TK, IP: [127.0.0.1]
L2: IRS auditTaking distributions should not trigger an audit. However, if the IRA Trustee/Custodian sends the IRS a 1099R stating that the distribution was not exempt from the 10% penalty and you fail to file IRS form 5329, you may very likely have an audit.To be exempt, I believe that box 7 should be coded with a ‘2’.2002-08-23 06:55, By: Gfw, IP: [127.0.0.1]

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