KarenL
Employee Tax Expert

Get your taxes done using TurboTax

It's better to have taxes withheld from your IRA income as needed, assuming it's a taxable Traditional IRA.  The IRS is a pay-as-you-go type of system.  If you don't pay enough in, it's possible you will owe underpayment penalties when it comes time to file.  A great place to start is with the Tax Caster tool.  Just enter in your details, and you'll get a pretty good idea of how much tax you'll need to have withheld from your income sources.  The tool is for 2023 still, but it will be close for you.

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