Ask an Advisor: Can I Reduce My RMD to $25k to Avoid Taxes on Social Security?
- Posted on October 28, 2024
- By Yahoo News
- 1 Views
Ask an Advisor: Can I Reduce My RMD to $25k to Avoid Taxes on Social Security?
I’m in my first year of required minimum distributions of $36,000, which is causing me to be taxed on my $33,000 in Social Security benefits. What is a good strategy to reduce my RMDs below $25,000 so my Social Security benefits do not become taxable? Would taking a lump sum from my pre-tax IRA and […] The post Ask an Advisor: How Do I Reduce My RMD to Just $25k So My Social Security Isn’t Taxed? appeared first on SmartReads by SmartAsset.