Late filing and huge unexpected tax bill

[mpetrakis88]

Apparently I hadn’t been having anything taken out of a lifetime five annuity and 2024 I not only worked but also had to take the annuity so got a HUGE tax bill. Most all my salary went into my home post tenants. But not enough to offset the tax and therefore i owe 16000 fed and 3000 state. I will have yo pay off over time. 

I did my own taxes with TurboTax and now realize I need to pay attention. (Always had someone do my taxes) 

I wrote you about mid term rental. 

which form should I fill out to have taxes take out of annuity/SS income? 

[Cindy4]

To have withholding done for Social Security you will fill out a form W-4V and for the annuity a form W-4P.

So sorry to hear about the big tax bill but at least you're taking the necessary steps to prevent it in the future!

Hope this helps,

Cindy