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Form 5329 Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts is used to report additional taxes on:

  • IRAs,
  • Other qualified retirement plans,
  • Modified endowment contracts,
  • Coverdell ESAs,
  • QTPs,
  • Archer MSAs,
  • HSAs, or
  • ABLE accounts.

For additional information see IRS Instructions for Form 5329.

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

  1. From within your TaxAct return (Online or Desktop), click Federal. On smaller devices, click in the upper left-hand corner, then click Federal.
  2. Click Retirement Plan Income in the Federal Quick Q&A Topics menu to expand, then click Taxpayer/Spouse Additional taxes on qualified plans (Form 5329).
  3. Click Review on the row you wish to make or modify.
  4. Continue with the interview process to enter all of the appropriate information.

Note that any link in the information above is updated each year automatically and will take you to the most recent version of the document at the time it is accessed.


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