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Retirement tax questions
The mandatory 20% withholding is only on the amount eligible for rollover, so if $80k had been the RMD and the $180k was all reported on a code 7 Form 1099-R, only 20% of $100 would be required to be withheld. But you are right, with only $21k being RMD it doesn't add up.
March 10, 2020
12:35 PM