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March 30, 2023
Question

Income

  • March 30, 2023
  • 1 reply
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MY wife and I sold some IRA type investments to pay off the mortgage last year so that portion of our income was much higher than normal (we are well past retirment age).  As I was inputing the data turbotax asked if I wanted to average my income or that portion of my income.  If not I could come back later and change it.  I have now finished the federal taxes and want to try to averaging feature to see if it lowers our total tax burden, but I can't find it now.

 

Can anyone point me to that part of the program?

    1 reply

    March 30, 2023

    This was probably asking if you wanted to average your income because of a penalty for underpayment. To get back to that section select the following:

    • Federal
    • Other Tax Situations
    • Additional Tax Payment
    • Start next to underpayment penalties
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