Skip Required Minimum Distributions the Right Way Without IRS Trouble
You have an opportunity to reduce your tax bill and do some good at the same time.
Overview
You're already worried about how high your 2026 tax bill will be, and you still haven't taken your required minimum distributions (RMDs) for the year. These could increase your tax liability by thousands of dollars, but skipping these withdrawals triggers a 25% penalty that'll likely cost you even more.
It might seem like you have no way out, but there actually is a way to satisfy your RMD without costing yourself a boatload in taxes. Here's what you need to do.
Image source: Getty Images.
Details
Source
Originally published at www.fool.com.
Related Articles
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.