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If you want to be sure that this is the case, look at Schedule 2 Line 6 Additional tax on IRAs, other qualified retirement plans, and other tax-favored accounts.
If you want to be sure that this is the case, look at Schedule 2 Line 6 Additional tax on IRAs, other qualified retirement plans, and other tax-favored accounts.
Thank you, that is helpful. I don't see anything on Schedule 2, Line 6 so I was wrong about the 10% being added. I guess that means that I paid 20% tax on the $147,860, and I have to pay ~$18,000 (combined state and federal) additional because 20% wasn't enough. The extra income must have really bumped us up into an expensive tax bracket.
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