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Retirement tax questions
When I entered $200,000 under defined benefit plan for my wife's 2019 contribution to her cash balance plan and based on net income for her of $261,000, TurboTax is still showing a federal tax due of approximately $27,000. How can a federal tax be due of $27,000 when her income after the cash balance plan contribution is only $61,000?
‎April 1, 2020
1:38 PM