No, just as a brief overview and some advice:
Purpose of form. Complete Form W-4P to have payers withhold the correct amount of federal income tax from your periodic pension, annuity (including commercial annuities), profit-sharing and stock bonus plan, or IRA payments. Federal income tax withholding applies to the taxable part of these payments. Periodic payments are made in installments at regular intervals (for example, annually, quarterly, or monthly) over a period of more than 1 year. Don’t use Form W-4P for a nonperiodic payment (note that distributions from an IRA that are payable on demand are treated as nonperiodic payments) or an eligible rollover distribution (including a lump-sum pension payment). Instead, use Form W-4R, Withholding Certificate for Nonperiodic Payments and Eligible Rollover Distributions, for these payments/distributions. For more information on withholding, see Pub. 505, Tax Withholding and Estimated Tax.
Contact your plan administrator who pays you your pension or annuity income, etc. and ask them to change form for you, they usually have their own process for you. Whether you want to withhold or not, this is something the people who pay you need to know so they can start withholding taxes. TurboTax doesn't handle this. Hope this helps! If you get more than one pension or annuity, you can call all of them if needed and update form.
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