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Charlie will retire this year. Next year he will receive social security benefits of approximately $18,000; 401(k) distribution of approximately $24,000 and his IRA RMD
Charlie will retire this year. Next year he will receive social security benefits of approximately $18,000; 401(k) distribution of approximately $24,000 and his IRA RMD of approximately $9,000. He has not planned to have tax withheld on any payments, nor has he filled out anything to exempt his payments from tax. How much tax will be withheld from his payments? |
$0 | |
$900 with be withhold from his IRA. | |
$1,250 will be withheld from social security. | |
$4,800 will be withheld from his 401(k). |
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