I would like to suggest improvements for the 2026 tax year. Not sure if this is the proper place to pass along issues that can be solved.
I'm newly retired and take SS and raid my retirement and brokerage accounts when needed. Last year, I took out money from a brokerage account in the last week of the year. For some reason, TT wants to assume and passes to the tax authorities that this amount was evenly spread through the year as earnings when in fact it is technically earned only on the date it is taken out. In my case December of 2025. This leads to a penalty because they think i didn't report income since January 2025. The brokerage does not take out withholdings, so it is incumbent on me to report estimated income.
If I am to make estimated payments on my withdrawals in 2026, why isn't there a TT mechanism for me to print out the estimated forms and have it recorded such that it can be applied when TT 2026 is published?
Please forward to senior management in charge of programming.
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I may have done something wrong, but TT treated my entire withdrawal as income on the 2210 and State 2210A instead of just the gain from the sale. This caused a significantly higher penalty since i paid the tax in April.
If you have not already filed, you can delete Form 2210 and go back through that section in TurboTax again.
To do this, you can use the steps listed below.
If you are using TurboTax Online you can delete a Form 2210 as follows:
If you are using TurboTax Desktop, you can delete a Form 2210 as follows:
To get back to those screens in TurboTax to re-enter your information you can:
Please return to Community if you have any additional information or questions and we would be happy to help.
If you took a 1099R withdrawal from a retirement account like a IRA or 401K it is all taxable. For a regular brokerage acct 1099B then only the gain is taxable.
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