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SFsarge
Returning Member

When can I start my 2019 taxes?

I need to do my RMD by 31 Dec 2019. Also I want to take an additional amount from my 401K (which must be done by 31 Dec 2019) but need to know how much the additional withdrawal will raise my taxes.
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3 Replies

When can I start my 2019 taxes?

Desktop software for 2019 is already available; online TurboTax for 2019 returns will be available on December 4, 2019.  The software still has some glitches and will need numerous updates, but you could start a 2019 return to get an estimate of where you stand.

 

**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.**

When can I start my 2019 taxes?

the additional tax on the additional withdrawal will be dependent on your marginal tax bracket...... simply google '2019 tax bracket' and there are a number of websites that provide this information. 

 

don't forget any state taxes - same thing - google 'tax bracket' for your state. 

dmertz
Level 15

When can I start my 2019 taxes?

There's often far more to determining marginal tax than just the tax bracket for ordinary income, particularly for someone subject to RMDs from a 401(k) since increases in ordinary income can affect how much Social Security income is taxable.  To accurately estimate the additional tax liability it's necessary to simulate the entire tax return.

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