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Level 2
Feb 3, 2025 10:02 PM UTC
Question

large one time withdrawl

I had to close out not qualified accounts to pay off my husbands estate.  this put me into another tax bracket but its a one time payment.  can i average it or something else to lower my income.

    1 reply

    Alumni - Intuit
    Feb 3, 2025 10:37 PM UTC

    No.

     

    The tax laws do not allow you to average out your income even in case of a one-time large income item in a tax year.

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