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Question

Form W-4P for 401K instructions seem to conflict with the instructions on the form. We have no jobs, have pension income, social security and 401K RMD annual payments. The RMD withholding for 2024 is too low; how do we correct this?

Forum|Forum|1 year ago
January 13, 2025
1 reply
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Not A Product Question

You can complete the Form W-4P per the instructions on the form, and then enter an additional amount to be withheld in box 4(c) that will compensate for the shortfall in your taxes due this year. That will negate the likelihood for a shortfall again next year, but you will have to pay in the taxes due for 2024 when you file your tax return.

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