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Retirement tax questions
@hjhood --
A 50% penalty would apply only if you failed to take a required RMD. If an account owner fails to withdraw a RMD, fails to withdraw the full amount of the RMD, or fails to withdraw the RMD by the applicable deadline, the amount not withdrawn is taxed at 50%.
**Answers are correct to the best of my ability but do not constitute tax or legal advice.
‎April 20, 2021
9:07 AM