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Quarterly estimated tax payments are due: April 15th June 15th September 15th and January 15th The goal is to be within $1,000 of your calculated tax liability on your upcoming personal tax return to avoid penalties. They can be paid with a check or online.   To calculate each estimated payment, you will want to review your income for: January 1 through March 31 April 1 through May 31 June 1 through August 31 and September 1 through December 31 then subtract estimated deductions and credits.  Using the previous year tax return is a good starting point.  You can calculate by hand using the IRS Worksheet or you can use the calculator in TurboTax

First, please accept my deepest sympathies on the recent passing of your spouse.    I presume when you said he had an account with Charles Schwab and that the account was transferred into an inheritance account in your name, that the funds were in your husband's IRA account, and those have subsequently been moved to your IRA account.   If that is correct, based on your age, you can take a distribution for any amount you wish.  If all of your spouse's contributions to the IRA were pretax contributions, then the entire amount you withdraw will be considered taxable income to you, and reported on your tax return.   However, the decision to withdraw $75,000 may, in fact, cause an amount larger than $75,000 to be taxable to you on your tax return, assuming you (and/or your spouse) are collecting social security income. Depending on your income, social security benefits may be not taxable to you, but as your income rises, your social security benefits can start to become taxable to you, and with higher income, up to 85% of social security income can be considered taxable income.   As such, if you have historically been in a situation where none of your social security benefits were taxable, taking the $75,000 from the IRA could very well cause up to 85% of social security benefits to be taxable.  It would be difficult to calculate exactly what the impact would be on your 2025 tax return, as the impact depends on how much social security benefits are received in 2025, what other income (retirement pensions, IRA's, investment income, etc.) you have, and the amount of deductions you have.     An additional factor you will want to consider is the timing of the withdrawal from the account - and whether it saves money to take the money out this year in 2025, wait until January 2026, or even take a portion out this year and a portion out next year. As your spouse passed away in 2025, you can still file your 2025 tax return as Married Filing Joint (MFJ), taking advantage of the higher MFJ standard deduction and MFJ tax brackets.  The year of his passing would be the last year you can file a MFJ return (unless you remarry sometime down the road).  So a consideration would be what does your income tax liability look like this year as a MFJ return reporting income received by both of your in 2025, versus what your income tax liability will look like in 2026, presumably filing status as Single, with just your income being reported.   I would recommend reaching out to your financial advisor at Charles Schwab, or reach out to a local tax professional to help calculate the impact of taking money out of the account this year, and if it could be tax advantageous to take the funds out in 2025, 2026, or spread between the two years.   I hope this information is helpful as you decide how to move forward, and again, my deepest condolences on your loss.

Contributions to a Roth IRA are: 1. Taxed at the time of contribution so 2. The account grows tax free meaning 3. Distributions are not taxed   A Roth Conversion means funds were moved from a tax deferred account (like a Traditional IRA) into the Roth IRA.  The amount of the conversion 1. Is taxable as ordinary income in the year of conversion 2. There is no penalty 3. Can be done regardless of age or AGI

I just received a notice from Intuit that they are still not going to support Windows 10 even with security updates. Given the security updates makes Windows 10 as secure as it ever was , this shows Intuit's reasoning is thinly veiled malarky. I am not going to upgrade to Windows 11 and put up with Microsoft every update causing major bugs in the operating system that affect users and create headaches. This whole dig your heels in from Intuit is typical corporate over reach, telling me how to use my computers. Banking level encryption is great until it is isn't and there are big hacks every month sending their user's data into the dark web. So I am not going to do Turbo Tax Online.    H&R Block is supporting Windows 10 going forward, how about that. I have used their product in the past and they seamlessly import Turbo Tax. So H&R Block here I come.

I am learning and trying understand your math: $48350; subtract single filer deduction of $15,750; subtract HSA contribution of $5,300 = $27,300   $27,300 is your AGI. Is the MAGI what should be used? If so, is your MAGI $48,350?

Distributions from a Roth IRA that is less than 5 years old are subject to specific IRS rules that determine whether the withdrawal is tax-free or taxable, depending on the amount withdrawn and the type of funds being distributed. IRS Rules for Roth IRA Distributions The IRS has an established order for how withdrawals from a Roth IRA are taxed: Contributions: Withdrawn first in all cases. Always tax-free because contributions are made with after-tax dollars. Converted or Rolled-Over Funds: Withdrawn next, after contributions. Also tax-free because taxes were already paid at the time of conversion or rollover. Earnings: Withdrawn last. If the Roth IRA is less than 5 years old or the distribution does not meet IRS criteria for a "qualified distribution," earnings are taxable as ordinary income. Taxation Depending on Full or Partial Distribution Full Distribution: Contributions and converted/rolled-over funds are not taxed, regardless of the account being less than 5 years old. Earnings made from those funds are taxed as they are considered a "non-qualified distribution" for Roth IRAs less than 5 years old unless specific exceptions apply, such as using the earnings for first-time home purchases (up to $10,000). Since you are over the age of 59½, no 10% early withdrawal penalty applies to the earnings, even though they are subject to taxation. Partial Distribution: Contributions are withdrawn first and are tax-free; next, converted or rolled-over funds are also tax-free. If your withdrawal amount does not exceed your contributions and converted/rolled-over funds, the distribution is completely tax-free. If your withdrawal reaches the earnings portion, those distributed earnings will be taxable. Your taxable amount will be reported on Box 2 of Form 1099-R. For more detailed information on these rules, visit: Roth IRA Withdrawal Rules and Penalties. By understanding the IRS rules for how Roth IRA distributions are taxed, you can better manage your withdrawals to minimize taxes.   @user17610862872  Thanks for the question! **Say “Thanks” by clicking the thumb icon in the post **Mark the post that answers your questions by clicking on “Mark as Best Answer”  

@scottvf wrote: There is no reason to end support on windows 10 just because microsoft stopped support... They don't have to give us a reason, rational or otherwise; they can just do it.   The fact is that we won't really know for certain whether the products will install and run on Windows 10 until they are released (and some folks actually give it a shot). Officially, Windows 10 is not supported, but that does not necessarily mean the products will absolutely not run on that OS.

Yes.  Are you switching from the Desktop program?  You may have to upgrade to a higher version in Online to enter some things.  But Online has all the forms like the Desktop program  (but you can't see the actual forms) .  You should be able to enter  W2 and 1099R forms even in the Online Free Edition or you might need Deluxe.