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Form 1099-R gross distribution 99,950.00, federal income tax withheld 19,990.00, California state income tax withheld 1,999.00. Is state withheld money too short?

My federal numbers are ok but not state which I have to pay little bit more than  4,000.00

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MinhT
Expert Alumni

Form 1099-R gross distribution 99,950.00, federal income tax withheld 19,990.00, California state income tax withheld 1,999.00. Is state withheld money too short?

You had 20% of federal tax withheld but only 2% of state tax withheld on your distribution. As the maximum state tax rate in California is 12.3%, it is certain that the state tax withheld was too short and you have state tax due.

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1 Reply
MinhT
Expert Alumni

Form 1099-R gross distribution 99,950.00, federal income tax withheld 19,990.00, California state income tax withheld 1,999.00. Is state withheld money too short?

You had 20% of federal tax withheld but only 2% of state tax withheld on your distribution. As the maximum state tax rate in California is 12.3%, it is certain that the state tax withheld was too short and you have state tax due.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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