SOLUTION: From my IRA, how much money do I need to wihtdraw to get $10,000 if they withhold 10 persent? My e-mail address is maryandjimsabin@verizon.net.
Thank you, Jim Sabin
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Thank you, Jim Sabin
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Question 543471: From my IRA, how much money do I need to wihtdraw to get $10,000 if they withhold 10 persent? My e-mail address is maryandjimsabin@verizon.net.
Thank you, Jim Sabin Answer by jpg7n16(66) (Show Source):
You can put this solution on YOUR website! Hey Jim,
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To answer this question you set up an equation like so:
You have some amount minus 10% of that amount, which leaves you with $10,000.
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Doing some algebra, you can reduce that down and find a much easier way of calculating what you'll need. factor out the x's on the left divide by (1-.10)
You need to w/d $11,111.11 to get exactly $10k after 10% withholding.
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For future calculations, you can use the following formula:
Hope this helps!
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