my wife inherited a traditional IRA from her grandfather, who passed away two months ago. Now in December 2024, and before the end of the year, we are planning to withdraw funds (more than required but not all funds) from this traditional IRA. We live in DC. Do we need to withhold taxes to cover the taxes we have to pay (according to our income tax brackets) or are we allowed to make estimated tax payments for the same amount by January at, 2025? The reason for making the estimated tax payments for federal and state taxes is to pay with a credit card that would more than compensate the credit card fees. My wife is 31 and I’m 35.
