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Level 2

Question

federal income

2 replies
5 views

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

Tax Advice

Level 15

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.**

dusty1342Author

Level 2

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