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Why does my military retirement pension raise my tax bill if I correctly paid in all taxes owed during the year?
My filing status is married filing jointly. After putting in our W-2's we owe $219. Then I input my Army 1099 R with a gross distribution of 33714.00 and taxes withheld of 2913.60. As soon as I input these numbers TT shows I owe $1116.00.
I checked the tax tables for 2018 and 2913.00 was the proper amount to have been withheld for my withholding status of withhold at higher single rate with only 1 exemption (myself).
Why would my taxed owed go up after inputting this? What am i missing here?
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‎June 1, 2019
8:20 AM