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Why does tax due go up based on value of IRA?
TurboTax asks for the
Value of my Traditional, SEP, and SIMPLE IRAs on December 31 2021. It says this information is sent in the mail on Form 5498 which I didn't get. I enter the information from my IRA end of the year statement and when depress "Continue" button the Federal Tax due goes up by $725. This makes absolutely no sense.
Value of my Traditional, SEP, and SIMPLE IRAs on December 31 2021. It says this information is sent in the mail on Form 5498 which I didn't get. I enter the information from my IRA end of the year statement and when depress "Continue" button the Federal Tax due goes up by $725. This makes absolutely no sense.
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‎February 26, 2022
1:47 PM