Personal Investments • Transfer money between accounts at Vanguard

I have a quick question and need some help/suggestions.
I have an ira retirement brokerage account and another non retirement brokerage account.
I know that when i sell mutual funds i need to pay taxes to irs(15%) and also CT taxes.
If i transfer money from VMRXX (settlement fund in IRA retirement account) to my non retirement brokerage account why do i need to pay taxes again.
Ex:
If i want to transfer 10K from ira retirement account to non retirement brokerage account Vanguard wants to withhold 10%
That to me is a double whammy since i already pay taxes (15%) when i sold some of my mutual fund.

Am i missing something or it just the way IRS works.

Thanks
Jo

Statistics: Posted by jo001di — Thu Dec 19, 2024 10:42 am — Replies 2 — Views 101

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