- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement savings
I am 67. I withdrew 30k and later 35k from my before tax retirement savings, both in 2021. I put away 10 % of one and had 10% withheld on the other for taxes. My only income is social security. What tax rate % would apply to me in this situation. This has taken me from about $22000.00 income to $85000.00 income this year. I knew I would be paying for my decision, but running the numbers on Turbo Tax the amount is coming up quit a bit higher than I expected. Any suggestions on what I could be doing wrong?
March 9, 2022
4:22 PM