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abclapp914
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- 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.
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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.
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June 7, 2019
5:06 PM
No. 2017 accepted without comment or reply.
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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.
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