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varying tax withholding from year to year

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ByTheresa M

L1: varying tax withholding from year to yearHello, and thanks for your advice. I started my 72T withdrawals this year from my IRA with Schwab. I had them withhold back 20% for taxes. Next year I want them to withhold only about 10% for taxes because I will be in a much lower tax bracket. My question , Will this throw up a red flag to the IRS?. The gross distribution will be the same , but only the withholding percent will change. Thanks!2009-12-10 02:36, By: Theresa M, IP: [75.88.198.233]
L2: varying tax withholding from year to yearTheresa,
The 1099-R that you and they will get for the withdrawal will show the same gross withdrawal each year, assuming you are using Amortization or Annuitization without recalculation, and will just show a different amount of Fed Tax withheld, which is not an issue for them.KEN2009-12-10 05:00, By: Ken, IP: [71.192.120.143]

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