My DH got his W2 form last night. So I decided to input what I could for our taxes.
I don't have my w2 yet, so was going off my last 2017 statement (not sure how to figure out the retirement portion) and also gave best estimates on stock sales. That gave us taxes owed of $5.
Then I added in the $1,038 annuity from DH's late sister. All of a sudden taxes owed went to $638!! Um ... hopefully when I get the actual form it won't be this bad. But seriously, that's most of it!
I'm really regretting selling the non-tax exempt stock this year.
We may have been better off having put our IRA money in traditional rather than ROTH this year ... it looks like we won't get the tax saver's credit thanks to the annuity plus stock sale. UGH!
Oh boy!
January 13th, 2018 at 08:46 pm
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Carol, yeah it doesn’t make sense does it? But since it’s an annuity it’s taxed.
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CCF - you’re right, I can’t beat myself up fo something I had no idea would happen.
Rob I hope so. I’m hoping I put the annuity money in the wrong form or when the retirement money from my job is figured in it’ll change things.