abclapp914
New Member
Member profile
Activity Feed for abclapp914
- Posted Clarify "balance due." I withdrew the RMD end of Decembe... on Retirement tax questions. June 7, 2019 5:06 PM
- Posted No penalty taxes, no. I paid full taxes on the 2017 RMD,... on Retirement tax questions. June 7, 2019 5:06 PM
- Posted No. 2017 accepted without comment or reply. on Retirement tax questions. June 7, 2019 5:06 PM
- Posted Need I pay tax on RMD income not received yet? on Retirement tax questions. June 7, 2019 5:06 PM
June 7, 2019
5:06 PM
Clarify "balance due." I withdrew the RMD end of December, paid the tax in full in April. No reply from IRS, so I assumed the amount paid was correct. Again, I had no (real) income in 2017 except RMD at the end of year. I had no monthly or quarterly income, only the RMD at the end of 2017.
... View more
June 7, 2019
5:06 PM
No penalty taxes, no. I paid full taxes on the 2017 RMD, but nothing additional. Followed the same procedure, withdrawing 2017 RMD near end of December, filing and paying tax in April.
... View more
June 7, 2019
5:06 PM
No. 2017 accepted without comment or reply.
... View more
June 7, 2019
5:06 PM
I withdrew 2018 my RMD on 12/24/2018, filed my return 4/5/2019, but I received a tax penalty on 4/29/2019 for "Failure-to-pay proper estimated tax" for 2018. I had no other income for 2018 other than a monthly pension of $24.93 (total of $299.16, which I added to the RMD). Am I supposed to pay tax on income I haven't received yet (the RMD)? The billing summary (attached) shows tax I owed equaled exactly my "payments and credits" to the penny. But added $223.61 for "failure to pay proper estimated tax penalty." Never explained why there was a penalty.
... View more
Topics:
