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Level 1

Question

IRA DEDUCTION AMOUNT

1 reply
8 views

My IRA 9,500 has matured and i want to cash it and request taxes be taken out before distribution. How much should I av taken out as to not owe anything. 10 percent or 15 percen 20 percent??????

Not A Product Question

Level 15

We do not know anything about the other income you will be entering on your tax return, so we cannot tell you how much to have withheld. If you have more withheld than necessary, then you may get a refund when you enter all of your income on your next tax return. You will get a 1099R for the distribution from the IRA in late January/early February which you will enter on your return.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**