I think you #2 scenario is right. There were three entries on the inherited IRA history - 80k transfer to another account 26k Fed Withholding and 12k State Withholding. So the $118k withdrawal makes sense now with the rates you mentioned. I'm needing to do my CA health insurance exchange and need to calculate my income. So I'll need to add $118k to my income for the year, not $80.
THANK YOU
