dm
Full time employment: Posting here.
My wife teaches a online class and made around $13,000 last year. I also took around $25,000 out of my IRA last year. I’m also getting SS and the wife has a pension.
Plugging numbers into turbo tax so far it looks like I’ll need to send them a bit more than normal.
I thinking about putting 13,000 into the 2021 to reduce this amount. $7,000 to hers and $6,000 to mine.
But I’ll probably have to take a little more out this year to cover the $13,000, but it will put off paying the taxes.
Does this make sense?
Plugging numbers into turbo tax so far it looks like I’ll need to send them a bit more than normal.
I thinking about putting 13,000 into the 2021 to reduce this amount. $7,000 to hers and $6,000 to mine.
But I’ll probably have to take a little more out this year to cover the $13,000, but it will put off paying the taxes.
Does this make sense?