How can I plan for IRA Withdrawals beginning in 2021 and calculate the Estimate Taxes I will need to pay for the year?
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One way would be to create a practice 2020 return and add in the additional income. It won't be exactly the same as next year, but it will give you an idea. You can abandon the return when done.
Thanks for your suggestion. I have done that as a "What if" exercise adding in my assumed 2021 IRA RMDs onto my 2020 Income Tax return to see what the estimated taxes would be. It was a little cumbersome as it didn't cleanly handle my tax refund that I rolled forward to my 2021 taxes.
This whole exercise with TurboTax was disappointing though. I remember once upon a time when Intuit made more functionality to allow looking into Tax Planning. I am really disappointed and may stop buying TurboTax in the future. I don't think I need to spend $79 for Premier versions to get really basic functionality.
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