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Get your taxes done using TurboTax
That would tend to indicate that the added income is taxed at in the 24% bracket. Do double check the entry and be sure that the distribution code is 4 and not a 1, indicating a penalty of any sort.
Inherited IRA distributions are fully taxable at regular income tax rates on your return, but are not subject to early withdrawal penalties.
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‎April 14, 2024
5:22 PM