@DC_33 wrote:
Has anyone else’s taxes just sky rocketed after entering the next 1/3 withdrawl information?? Last year I payed just under $100, and now this year I owe almost 2k! Nothing has changed on my end, aside from making $1000 more than last year
You added 1/3 of the 2020 distribution to your 2021 tax return. That is entered as ordinary income on Form 1040 either on line 4b or 5b. This increases your total and taxable income and therefore increases the tax on the taxable income.
