TurboTax

File with experts
File your taxes
Experts at your fingertips

An expert helps with your taxes, or does them for you
TurboTax Expert Full Service

TurboTax Expert Assist

TurboTax Self-Employed
Prior year taxes
File myself
File myself
Do it yourself

We'll guide you step-by-step
TurboTax Do It Yourself

TurboTax Self-Employed

TurboTax Desktop
TurboTax Free

Activate your product

Prior year taxes
Business
Business
Business taxes

Get your T2 corporate return done right, your way
TurboTax Business

TurboTax Business Desktop
Tax situations
Tax situations
Tax situations

Find extra guidance for your big life moves
For investors

For 25 and younger

For self-employed

For new to Canada

For life changes
Resources
Resources
Resources

Explore tax tools, get tips, and read reviews
Personal income tax calculator

RRSP savings calculator

Learning hub

TurboTax support (FAQ)

TurboTax community
Pricing

Level 1

Question

Tax liability for2020

Forum|Forum|6 years ago
June 23, 2020
2 replies
4 views

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

Level 15

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).

Level 15

Use your 2019 turbotax or other desktop tax software to prepare a trial return. Enter amounts for 2020. The results will be close enough,