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Retirement tax questions
2a lists the taxable amount, which was the full amount of the withdrawal. 2b was checked and reads "Taxable amount not determined" which seems to contradict 2a. Regardless, the whole amount is taxable of course.
So the question is when will it be credited on my returns. After I file? The refund forecast doesn't seem to take this into account, which is what my original post is speculating. For reference we did 15% federal and 5% state, so a little bit of tax should most likely be owed. However as my post states, an amount of the withdrawal at exactly my tax bracket is being deducted from my refund.
So the software doesn't credit withheld taxes, and I won't know what is or isn't owed until after I file, correct?
March 2, 2020
8:14 AM