dmertz
Level 15

Get your taxes done using TurboTax

Just be carful about the taxation of Social Security income.  It's possible that even if the additional income falls in the 10% tax bracket the marginal tax rate could be as high as 18.5% due to additional income making more Social Security income taxable.  As fanfare said, prepare a projected tax return to see how much additional federal tax you pay with each $1,000 increase in ordinary income.

 

Since it seems that you don't need the additional IRA income to live on, it would be better to convert the additional traditional IRA distributions to Roth instead of just taking the money out.  The immediate taxable result would be the same but growth in the Roth IRA would be tax free instead of tax deferred one you meet the requirements for qualified Roth IRA distributions.  If you are under age 59½, doing so also avoids any 10% early-distribution penalty.