@naviator2003 wrote:
@macuser_22 Thanks for the response. In short, the government, in their infinite wisdom, didn't take this situation into account, and, in effect, let the investor suffer by needing to pull out more than what's needed...
No. The Gov. (the tax law) only says you will pay a penalty on any excess - it does not calculate it for you.
Actually this is something that TurboTax could warn you about but does not. TurboTax could also calculate the correct amount to remove, but does not. This has existed for years.
**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.**
