---
title: "Professional Editions: Form 5329 – Entering in Program"
description: "IRS [Form 5329](https://www.irs.gov/pub/irs-pdf/f5329.pdf) is the federal tax form used to report additional taxes on: - IRAs - Other qualified retirement plans - Modified endowment contracts - Coverdell ESAs - QTPs - Archer MSAs - HSAs - ABLE accounts To enter,…"
url: "https://support.taxact.com/support/21765/form-5329-entering-in-program"
updated: "2026-10-06"
category: Pros / Preparing Returns
tags:
  - 5329
  - account
  - additional
  - form
  - ira
  - iras
  - plans
  - qualified
  - "tax-favored"
  - taxes
---

# Professional Editions: Form 5329 – Entering in Program

IRS [Form 5329](https://www.irs.gov/pub/irs-pdf/f5329.pdf) is the federal tax form used to report additional taxes on:

- IRAs
- Other qualified retirement plans
- Modified endowment contracts
- Coverdell ESAs
- QTPs
- Archer MSAs
- HSAs
- ABLE accounts

 To enter, review, or delete information for [Form 5329](https://www.irs.gov/pub/irs-pdf/f5329.pdf) in TaxAct:

### TaxAct Online

- From within the TaxAct return, click**Federal**.
  - On smaller devices, click the menu at the top left corner of your screen, then make your selection.
- Click**Taxes & Miscellaneous**.
- Click **Additional Tax Payments** to expand the dropdown list of topics.
- Click **Additional Taxes on Qualified Retirement Plans (Form 5329)**from the list of topics.

### Desktop

- From within the TaxAct return, click **Topics Assistant**.
- From the topics screen, click **Federal Q&A** to expand the dropdown list.
- Click **Retirement Plan Income** and click **Additional Taxes on Qualified Retirement Plans (Form 5329)**from the dropdown list.

### Form 5329 Not Required

There are some instances in which [Form 5329](https://www.irs.gov/pub/irs-pdf/f5329.pdf) *Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts* is not required to be included with a return, even if an amount appears on [Form 1040](https://www.irs.gov/pub/irs-pdf/f1040.pdf) *U.S. Individual Income Tax Return*, Line 6 for Additional tax on IRAs, other qualified retirement plans, etc.

1. Received an early distribution from (a) an IRA or other qualified retirement plan, (b) an annuity, or (c) a modified endowment contract entered into after June 20, 1988, and the total distribution wasn't rolled over.
2. Excess contributions were made to a IRA, Coverdell education savings account (ESA), Archer MSA, health savings account (HSA), or ABLE account.
3. Received a taxable distribution from a Coverdell ESA, qualified tuition program, or ABLE account.
4. Did not meet the minimum required distribution from the IRA or other qualified retirement plan by April 1 of the year following the year the taxpayer reached age 72 (see IRS [Publication 590-B](http://www.irs.gov/pub/irs-pdf/p590b.pdf#page=8) for more information about required minimum distributions).

**Exception**

If only item (1) applies and distribution code 1 is correctly shown in box 7 of all your Forms 1099-R, you don’t have to file Form 5329. Instead, multiply the taxable amount of the distribution (reported on Form 1040, 1040-SR, or 1040-NR) by 10% (0.10) and enter the result on line 8.

You must file Form 5329 if distribution code 1 is incorrectly shown in box 7 of Form 1099-R or you qualify for an exception, such as the exceptions for qualified medical expenses, qualified higher education expenses, qualified first time homebuyer distributions, or a qualified reservist distribution.

See [Instructions for Form 1040 and 1040-SR](http://www.irs.gov/pub/irs-pdf/i1040.pdf#page=98;)for more information