Estimating 2022 Taxes

[wheman]

When estimating 2022 taxes, I have both salary and RMD income and federal withholding.  It is obvious where to enter the salary withholding.  Where do I enter the RMD tax withholding?

Thanks

[DoninGA]

You have to enter the Form 1099-R that you received for the retirement fund distribution in 2021.

To enter, edit or delete a form 1099-R -

• Click on Federal Taxes (Personal using Home and Business)
• Click on Wages and Income (Personal Income using Home and Business)
• Click on I'll choose what I work on (if shown)
• Scroll down to Retirement Plans and Social Security
• On IRA, 401(k), Pension Plan Withdrawals (1099-R), click the start or update button

Or enter 1099-r in the Search box located in the upper right of the program screen. Click on Jump to 1099-R

[wheman]

Both my RMDs along with withholding are entered into TT for 2021 taxes.  Are they being carried over to the 2022 esitmate?  Or do I need to enter them somehow in the estimate process.

Thanks

[JohnB5677]

If the RMDs were for 2021,  any withholdings would be credited to 2021.  You do not have to post anything other than the 1099-Rs.

[wheman]

Ok, I understand the RMD income and the taxes withheld are in my 2021 TT return that I'm about to file. What I am asking does this RMD income and withholding pass through to my 2022 TT estimate or do I need to add the estimated RMD amount and withholding to 2022 estimate?  It is pretty clear the W2 income and withholding are part of the TT 2022 estimate.

Thanks, Bill

[JohnB5677]

Yes, the 2021 RMDs and the related withholding are included in the 2022 estimated income.  If you intend to make a larger or smaller withdrawal in 2022, you would have to adjust for that.  But everything that is posted to your 2021 tax return is accounted for in the 2022 estimates.

[wheman]

Thanks for your response.  However in the page Titled "Enter Payments You Expect to Make" , it says

"Enter your estimates of the federal income taxes you'll have withheld from your paychecks in2022. 

Last year $38, 482 was withheld"  Well not exactly that total includes  my 2021 W2 paycheck withholding and RMD withholding done my my financial institution.

Next: 'Federal income Tax you expect to Have Withheld" (in 2022) Here, if I enter the  both my W2 withholding and my RMD withholding, then my Qrtly payments for 2022 make sense.

It appears to me that the RMD amounts carry through this estimator but the RMD withholding does not and must be entered here.  What do you think?  Am I missing something?  If I am correct then a little editing on the page would could easily clear thing up.  Thanks

[JohnB5677 · Accepted solution]

Yes, I can see your point, but you have come to the correct conclusion.  Your total withholdings should be included.

For instance:  If you had 10% withheld for your RMD last year, and you choose to increase the withholdings to 20% this year, that increase should be reflected in your input.