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Retirement tax questions
If you are going to use IRA money to pay the tax then you can simply have the financial institution withhold any amount for tax that you specify.
If you will pay the tax from other funds and pay estimated tax then when you file you use form 2210 to show the the amount of income in each quarter of the year and the estimated tax paid to allow for "lump sum" income in one quarter.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
March 24, 2021
5:33 PM