Form W-4P, Withholding Certificate for Pension or Annuity Payments
What is form W-4P?
Form W-4P is for recipients of payments from pensions, annuities (including commercial annuities), and certain other deferred compensation. Use Form W-4P to tell payers the correct amount of federal income tax to withhold from your payment(s).
You also may use Form W-4P to choose (a) not to have any federal income tax withheld from the payment (except for certain types of distributions or payments) or (b) to have an additional amount of tax withheld.
Entering Form W-4P into TurboTax
You don't need to file Form W-4P with your Federal taxes. It is solely a form you send to your payers to withhold taxes.
For more detailed information about Form W-4P, please see Form W-4P, Withholding Certificate for Pension and Annuity Payments.