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Question
How can I determine what federal and state tax to withhold on an RMD from a retirement account?Thank you.
Date Asked:
December 9, 2021
Answer

Good question! I would start by checking with your financial institution first. The majority of IRAs automatically apply a 10% withholding on RMDs. So before you elect to withhold more, I would see what your current withholding elections are.

Date answered:
December 9, 2021

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