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Returning Member
posted Jun 4, 2019 6:09:12 PM

If the amount on form 1040 line 56 was $0, but tax owed was $678. In this situation, does it considered to be tax liability zero?

If the amount on form 1040 line 56 was $0, but tax owed was $678 (this is the 10% IRA early withdrawal penalty). In this situation, does it considered to be tax liability zero?

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1 Replies
Level 3
Jun 4, 2019 6:09:13 PM

No, the tax liability is $678.