2345900
turbotax icon
turbotax icon
cancel
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Yes No
dwaltonbau
Level 1

How to calculate taxes for IRA withdrawal in 2021?

60K withdrawal in June 2021.  Do I need to increase my 3rd and 4th quarterly estimated tax payments to avoid tax penalty?
posted
‎August 25, 2021 4:19 PM
last updated ‎August 25, 2021 4:19 PM
0
1
340
Reply
Bookmark Icon
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
Bsch4477
Level 15
Level 15

How to calculate taxes for IRA withdrawal in 2021?

You will owe additional income tax at your marginal tax rate. If it is a premature withdrawal then you will owe a 10% penalty. 

‎August 25, 2021 4:22 PM
0
323
Reply
Bookmark Icon

Still have questions?

Questions are answered within a few hours on average.

Post a Question

*Must create login to post

Featured forums
Taxes
Lower Debt
Investing
Self-Employed
All topics

Unlock tailored help options in your account.

Live Assisted: Get answers to all your tax questions! Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Live Assisted. Explore your options!
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question

Related Content

user17550208594
gabbydean8
AS70
dkrawchu1
filmbuph

Did the information on this page answer your question?

thumb-up Yes
thumb-down No
close icon
checkmark

Thank you for helping us improve the TurboTax Community!

Sign in to Turbotax

and start working
on your taxes

File your taxes, your way

Get expert help
or do it yourself.

Get started
close icon
icon help

Access additional help, including our tax experts

Post your question

to receive guidance
from our tax experts and community.

Connect with an expert

Real experts - to help
or even do your taxes for you.

Get started