One time withdrawl from IRA in excess of RMD

[mjflic]

In 2019 I purposely withdrew from my IRA monies in excess of my RMD after fulfilling my RMD. I chose the maximum withholding offered at the time but now my tax due is in excess of $1000. Do I have to pay the quarterly payments in addition to the tax due even though I don't intend to take additional distributions from my IRA in 2020? I just needed some additional funds to have available and will pay the tax due because of the one-time excess withdrawl. I understand that taking the additional funds over and above the RMD requires that I pay the tax on those funds but I don't intend to take the same action in 2020. My normal annual tax due is under $1000 except for this year. 

[VolvoGirl]

No.  Turbo Tax is very conservative and doesn't want you to owe next year.  They might have printed out if you got a big one time increase in income.   like if you took a IRA or 401K Withdrawal or had a big stock gain.  They are optional to pay.  They don't get sent in with your tax return so the IRS won't be expecting them.  You can ignore them.

[mjflic]

Thank you, Volvo girl, for your swift and sensible answer. You obviously discern that I am not attempting to dodge any monies due the IRA I just found it unsensible to pay ahead quarterly when my next year's fed tax won't be as high as it is this year because of the one time distribution.

Thanks again for a most sensible reply.