I double checked everything and it still says I owe 10%. I do have the box next to box 7 checked. This is really bad as I won't be able to use Turbo Tax if they're going to claim I owe an extra $912. I don't see what else I could possibly change... In the one large check box screen I choose "Simple IRA with more than 2 years of participation" as the only selection. Distribution code 1, box for IRA/SEP/SIMPLE checked. I then enter 100 in Higher Education.
Here's the full text, maybe I have a chance once I finish adding my data... Also, is there a way to manually override this $912 amount?
Good News: Your tax bill just got lower
For the info you just entered, we were able to reduce the tax...
Based on your entries so far, your extra tax bill is $912 or 10% (25% for Simple IRA) of the money you took out that didn't get used for a special situation. This number may change as you add more data to your return.
One last thing... right after Turbo Tax asks about this point, it asks if I took a previous Disaster Distribution before 2024. I did take a distribution during the 2020 covid emergency. Does that count? I answered yes. Not sure if that's complicating my 2024 Higher Education topic. I declared 1/3 of the 2020 distribution in 2021, 2022, and 2023, so it should have nothing to do with my 2024 Higher Education withdrawal.
