Is a payment of a % of MRD on an IRA to be shown on my Turbo Tax Return "Added Federal Estimated Payments"?

chazrog · ‎June 5, 2019

It seems to me that the % sent in should be treated the same way as Estimate Taxes (i.e Federal Estimated Payments). Yes or No?

macuser_22 · ‎June 5, 2019

No not estimate tax.

If there is Federal tax withholding in box 4 on the 1099-R form then it is added to all other W-2 and 1099 form withholding on line 64 on the 1040 form (line 40 on 1040A) and will offset your overall tax liability.

Box 12 state withholding will likewise transfer to the state tax return.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

View solution in original post

macuser_22 · ‎June 5, 2019

No not estimate tax.

If there is Federal tax withholding in box 4 on the 1099-R form then it is added to all other W-2 and 1099 form withholding on line 64 on the 1040 form (line 40 on 1040A) and will offset your overall tax liability.

Box 12 state withholding will likewise transfer to the state tax return.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

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Is a payment of a % of MRD on an IRA to be shown on my Turbo Tax Return "Added Federal Estimated Payments"?