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dusty1342
New Member

federal income

hello,this year my income is abnormally high because of some ira withdrawals.is it possible to use income averaging to help lower my tax bill?thank you,rick

                                                                   

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‎March 20, 2020 12:27 PM
last updated ‎March 20, 2020 12:27 PM
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xmasbaby0
Level 15
Level 15

federal income

No   "Income averaging" has been gone for many years.

 

To enter your retirement income, Go to  Federal> Wages and Income>Retirement Plans and Social Security>IRA  401 k) Pension Plan Withdrawals to enter your 1099R.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
‎March 20, 2020 12:29 PM
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dusty1342
New Member

federal income

thank you, i didn't know income ave.was discontinued.i understand about the 1099r form so i am just going to have to bite the bullet and pay i appreciate you answering me take care,rg

‎March 20, 2020 12:42 PM
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