Skip to main content
March 25, 2025
Question

I took total RMD of 30000.00 and paid 3000.00 required10% tax. Additionally I paid an extra 3000.00(10%) for federal taxes. Why do I have to pay 3000.00 more tax on RMD?

  • March 25, 2025
  • 1 reply
  • 0 views
No text available

1 reply

Employee
March 25, 2025

I PAID TAX ON THE RETIREMENT MONEY ALREADY

You had tax withheld from the distributions from the retirement account, just like when an employer withheld tax from your paychecks.  When you enter it all into the software, the calculations are done to reconcile the amount of income you received and the amount of tax that was withheld.  You might owe more or you might get a refund.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**