If I am going to have $1500.00 a month come out of my IRA for early distribution I am 52 and want to have 12% taken out I will then be only taking home $1320.00 where dose the $180.00 go.
2018-01-10 18:51, By: Ski1, IP: [220.127.116.11]
Federal income taxes. Your 1099 will show the total gross distribution and total federal income taxes.
Did you calculate what your SEPP amount is? If you are not basing the $1500 monthly amount on one of the calculation methods, you will run into the 10% early distribution. Just a heads up.
2018-01-11 01:42, By: brkr12002, IP: [18.104.22.168]