- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
No- the IRA is required to withhold 20% in most cases. Your taxable income and penalty is not determined until you file the annual tax return. Based on your other income and deductions, the tax rate is calculated and then the amount withheld is subtracted from the amount you have due.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎April 4, 2020
5:28 PM