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IRA Early Withdrawal
I had an early withdrawal of an IRA for $7,581.
I paid $1,668 for Fed taxes.
I paid $167 for CA State taxes.
Before I added this amount in TurboTax my taxes due were $503 Fed, $55 CA State.
After I added this amount in TurboTax my taxes due increased to $1,261 Fed, $592 CA State.
I understand the Fed increase of $758 due to the 10% early withdrawal penalty.
I don’t understand the CA State increase of $537 since CA only charges 2.5% for early withdrawal. That amount should be $190.
Why did my CA State taxes increase to $537 ($347 higher than expected)?
February 17, 2021
3:10 PM