Retirement tax questions

@billwal 

 

Yes...when you first enter the amount on the page where you put in that amount as your RMD...the tax owed rachets up...BUT...on the page after that where you indicate it was ALL the RMD...then the tax owed rachets back down.  (strange software behavior, the software folks could have paused...but didn't)

 

Of course, it may not go back to the original value...that really depends on how much Fed tax withholding was in box 4, and whether it was really enough to cover ALL of the taxes owed based on you entire incoem situation.

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*