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IRS Form 5329 is used to report additional taxes on:

  • Early distributions from retirement plans (Form 1099-R)
  • Certain distributions from education accounts
  • Excess contributions to traditional IRAs
  • Excess contributions to Roth IRAs
  • Excess contributions to Coverdell ESAs
  • Excess contributions to Archer MSAs
  • Excess contributions to HSAs
  • Excess accumulation in a retirement plan

For additional information see the IRS Instructions for Form 5329.

To enter, review, or delete information for Form 5329:

  1. From within your TaxAct® return (Online or Desktop), click on the Federal tab. On smaller devices, click the menu icon in the upper left-hand corner, then select Federal
  2. Click Retirement Plan Income to expand the category and then click [Taxpayer or Spouse] Additional taxes on qualified plans (Form 5329)
  3. Click Review next to the entry you wish to make or modify
  4. The program will proceed with the interview questions for you to enter or review the appropriate information

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