Retirement tax questions

The tax that was withheld when you took money out of the retirement account was an estimated amount--just like when an employer withholds money from a paycheck.   When you enter all of your income and all of the tax that was withheld into the software, the software does the calculations and reconciles the tax you had withheld with the amount that you need to pay.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**