HI I am looking for advice I retired in January 2020 . I am looking for tax liability for 2020
I had a gross pay of 8995.00
My fed income tax withheld 1192.00
my Ct Tax withheld 384.96
I took a gross amount out of my 401 K of 23285.00
But paid 4657.00 in Fed tax on it
Also paid 1627.00 in Ct tax on it
My social security for 2020 will be 16970.00
Will I owe any monies or will I get a refund
I don't deduct property taxes or mortgage interest based on the new laws
Thank you for your assistance
You'll need to sign in or create an account to connect with an expert.
You can use the TaxCaster here.
https://turbotax.intuit.com/tax-tools/calculators/taxcaster/
Although it is labeled for 2019, there are no significant changes for 2020 (yet).
Use your 2019 turbotax or other desktop tax software to prepare a trial return. Enter amounts for 2020. The results will be close enough,
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
dmg33
New Member
Maheshk
New Member
frankharry
Level 3
vorisenancy22
New Member
user17707899157
New Member