turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Attend our Ask the Experts event about Tax Law Changes & Forms (2024) on Mar 19! >> RSVP NOW!
Close icon
Do you have a TurboTax Online account?

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

Since the Retirement Income section is not yet available how can I best estimate how a non qualified annuity withdrawal will affect my taxes?

I returned my RMDs this yesr so have no retitrment income from that surce this year. However I already had some taxes withheld so I presume I will get a 1099-R for that. Also I have been withdrawing gains from a non-qualified annuity instead which I assume will mean another 1099-R. I want to figure out how much additional money I can withdraw from this account without having a serious impact on my taxes. Right now I'm including my esitmate for that under Interest but that forces me into a requirement for Deluxe which I don't think I'm really going to need this year. Is there a better way to esitmate say by reporting that income under Other Income?
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
rjs
Level 15
Level 15

Since the Retirement Income section is not yet available how can I best estimate how a non qualified annuity withdrawal will affect my taxes?

Create a fake W-2 and enter the income as wages in box 1 of the W-2. Be sure to delete the fake W-2 when you start working on your real tax return.

 

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question