Husband cashed out an IRA and we owe taxes. I mistakenly ticked my name as the owner, and when I went to correct it and tick my husband’s name the tax liability increased $1500! We are married filing jointly. Why would the tax liability increase depending on who’s account it was if we are married filing jointly?
And just to make sure, all you are doing is switching the 1099r from one spouse to another, and not changing anything else about the 1099r?
I’m at work right now but will contact support this evening. Thanks.