JotikaT2,
Thank you for the reply, but perhaps I wasn't clear. Here's the situation: For 2025, I intend to make a large IRA withdrawal. For example, let's consider a $50,000 IRA withdrawal. Through my brokerage, they will withhold my federal taxes, reported on my 1099 form. I enter this information into TurboTax, and all is good for the federal tax.
For Colorado state tax on $50,000, I will need to pay Colorado at least 4.4%, or $2,200. The brokerage does not withhold any state tax, so I will need to make the state tax payment directly, in that quarter. For 2025, it will be either 3rd or 4th quarter. I can do that.
Now the question: within TurboTax, how do I document for Colorado that the IRA withdrawal was made in a single quarter, and that I would have paid the estimated Colorado tax in that quarter?
I cannot annuitize 2025 Colorado estimated tax payments as two quarters have already passed.
Am just looking at how to use TurboTax to designate the IRA withdrawal and associated Colorado tax payment in a single quarter, to avoid future penalties.
Thank you.
