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April 4, 2025
Question

IRA Tax Withholding and Estimated Taxes

  • April 4, 2025
  • 0 replies
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The estimated tax worksheet in TurboTax does not take into account amounts withheld from IRA distributions. For a retiree with no W-2 wages and no W-2 withholding but substantial retirement income from IRA's, the software does not calculate estimated tax payments after deducting anticipated withholding amounts on Form 1099-R. Is there a workaround?