dmertz
Level 15

Retirement tax questions

Distributions paid to you from a qualified retirement plan that are eligible for rollover are subject to a statutory minimum 20% federal tax withholding on the taxable amount of the distribution.  Default 10% tax withholding only applies to plan distributions that are not eligible to be rolled over.

 

Distributions made to you after you have reached age 59½ are not early distributions.

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