IRA disbursement after retirement My mother is retiring this month and is trying to find a way to avoid any taxes on a 401K disbursement. She wants to purchase a second home for me ( her son) and pay cash rather than financing it but is afraid she will be hit with a high tax on the money she withdraws ? Is there any way she can do this to avoid a huge tax bill ?
Make it a rental ?
Her home residence is in California, I live and the 2nd house would be in Wisconsin. She'll be 62 this year and with a retired pension from her employer
any suggestions ? |