Looking for the best way to calculate what I can expect to owe in taxes on an annuity that was cashed without the taxes withheld? Is there a close percentage of the cashed amt you can figure?
If you cash in an annuity and fail to have taxes taken out, what can you expect to owe in taxes on it?
08
Mar
Serge M
March 8, 2010 at 10:44 pm
You can expect an underpayment penalty. How much you will owe depends on your other income and deductions. No one can answer your question without knowing your situation.