@wizestep wrote:
My RMD is a big piece of my income. I took it in January 2020. I have a penalty on my state tax because the program doesn't know that the withholding that was part of the RMD was done early in the year. Actually my tax payments were front loaded. Is there any way to fix this without annualizing everything?
I don't know what state that is but most states adhere to the Federal rules that W-2 and 1099 withholding is deemed to have been paid through out the year and does not need to be annualized like estimate tax does because of lump sum income peeks in different parts of the year.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
