Are required minimum distributions added to Adjusted gross income? What is an RMD?
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A required minimum distribution from a deferred retirement account. So if you have an IRA or a 401k or a Defined Benefit Plan. And you put money in, tax-deferred now, in other words, I’m putting money in and I’m writing it off against my taxes.
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Required Minimum Distributions Rules (RMD Tax Bombs?)
The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice….(read more)
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say i have to take a RMD from the IRA-BDA. should i with hold tax?
74 age here. My RMD 2500. Can I take 50,000$ from my IRA and buy a TEsla EV and get the 10,000$ tax credit to offset the tax on 50K? My only income is my SS check!