Situation: retirees, several years. No quarterly payments-unneeded, have tax wh from RMD's (estimating tax liability before it can be computed). This year we ended up owing 19% above calculated tax for our income (sounds like a penalty situation, no?) .. but withholding this year 125% of 2023 tax owed. Is there no actual connection between this year's withholding and last year's tax owed? The 5805 instructions speak about this year's w/h being 110% (or more) negating the underpayment penalty.. but this is stated in a long explanation with multiple conditions (ifs, ors, ands) so am I misreading the instruction?
Second question: is this discussion board supposed to be accessible directly from the TT program? I could only get to the general Intuit website, which appears to involve no user support at all (i.e., was useless). Had to find this page via Internet search.
