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I need to withdraw from an ira and was wondering if I'm in…

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I need to withdraw...

I need to withdraw from an ira and was wondering if I'm in the 25% tax bracket, should I have 25% federal and 25% state taxes withheld. the state tax part confuses me.

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Recently divorced and go stuck with a lot of debt. I need to pay it off. I'm 68 years old, taking out $15000 to pay off the debt. I know I need to without 25% for federal since I'm in that tax bracket. but I don t' know how much to withhold for state. don't want to have to pay at the end of the year.

Submitted: 6 months ago.Category: Finance
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8/4/2017
Financial Professional: TaxRobin, Senior Advisor replied 6 months ago
TaxRobin
TaxRobin, Senior Advisor
Category: Finance
Satisfied Customers: 16,715
Experience: 15 years of experience in financial advising with emphasis on tax issues.
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Hello, I'm Robin. Welcome to JustAnswer. I'm reviewing your question now and typing up my reply. I'll post that in just a few moments.

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Financial Professional: TaxRobin, Senior Advisor replied 6 months ago

What is your state?

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Customer reply replied 6 months ago
Indiana
Financial Professional: TaxRobin, Senior Advisor replied 6 months ago

Thanks, ***** ***** while I look up their rates...........................

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Financial Professional: TaxRobin, Senior Advisor replied 6 months ago

Indiana has a flat statewide income tax. 2017, that rate is 3.23%. However, many counties charge an additional income tax. What is your specific county so I can check on that please

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Financial Professional: TaxRobin, Senior Advisor replied 6 months ago

So far I can advice that 3.23% would cover your Indiana rate but without the specific county to see if their rate that is all I will be able to tell you.

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Financial Professional: TaxRobin, Senior Advisor replied 6 months ago

Any call offer is site generated, just ignore it. I need the county still though to advise on the full rate

Please let me know if you need more information.
If not then scroll up to see the STARS to rate so I am credited.

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Financial Professional: TaxRobin, Senior Advisor replied 6 months ago

Hi just checking back to see if you posted the specific county yet.

If you do not want to tell me your county (for some reason) I would suggest then that you have at least 5% withheld for state. Federal and state are totally different

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