@sansouci wrote:
OK. I took my RMD before guidance was issued that it was not required under the CARES Act. So within the 60 rollover window, I rolled the net amount back into the IRA). But Federal and state taxes for 2020 were withheld and could not be refunded. So how do I adjust my estimated taxes (I'm retired so there is no W-2 income) which are driven by the 100% or 110% safe harbor rules. I don't want to pay excess estimated taxes? Maybe the easiest way is to reduce my tax withholding on my pensions for the remainder of 2020.
Any other ideas regarding the TT program adjustments?
There aren't any adjustments to make in Turbotax, the program is designed for end of year tax preparation, not mid-year tax planning.
You already know the answer here. If you had (for example) $1500 of estimated taxes withheld and don't want to wait for a refund, reduce your other withholding by $1500 over the rest of the year (about $250/month for 6 months).
