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10% IRA early withdrawal penalty question...
Hi.
I have a Vanguard IRA and have been making some early withdrawals.
So far, I have elected to have Vanguard withold the 10% early withdrawal penalty tax.
However, I'd like to stop doing that and instead receive the full amount of
the IRA withdrawal (no withholding) and then pay the 10% penalty as a lump sum
when I file my taxes in April of next year.
Is this allowed?
The withdrawal amounts are a couple hundred dollars each month.
Thanks!
Topics:
‎June 2, 2024
12:05 PM