Hi,
My mom passed in 2019 and I inherited her Annuity. Each year since, I have taken the RMD with 10% withheld for federal taxes. When I input the information into Turbo Tax this year, my refund was reduced an additional $355.68!
Gross Dist: 2543.23
Fed Inc Tax withheld: 254.32
My income did not put me in a different tax bracket, so I am confused as to why this happened. Any help appreciated! Thanks!
