I am doing some tax planning for 2025 tax year.
I am 67 and currently take 2K a month from a traditional IRA and pay estimated taxes each month on those withdrawals.
In addition to the monthly withdrawals, I have decided to take a lump sum $100,000 distribution from my traditional IRA in January 2025 to pay off debt.
This will kick me into a higher tax bracket and I estimate federal taxes due on that to be @ 20K and State to be @ 7K.
Question is: Can I delay paying the 20K federal tax until December of 2025 by using a 20K withdrawal from the Traditional IRA and have 100% of that go to Federal Taxes without incurring a under withholding penalty.
Obviously, I would like to give the 20K a chance to earn over 12 months.
