Katsmeow
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Jul 11, 2009
- Messages
- 5,308
DH is going to rollover money from his 401(k) account directly to an IRA. I know that if done directly there is no tax withholding on it.
He will then a month or so later, withdraw some of the money in the IRA to use to purchase some property.
Is tax automatically withheld when you withdraw from an IRA (never done that before)? We know tax will be owed but don't want it to be withheld at that time if it is not mandatory.
He will then a month or so later, withdraw some of the money in the IRA to use to purchase some property.
Is tax automatically withheld when you withdraw from an IRA (never done that before)? We know tax will be owed but don't want it to be withheld at that time if it is not mandatory.