I’m expecting a lump sum of an annuity I opened 10 years ago; not sure of the amount yet; but I’d like to know approximately how much of the total would be taken out for taxes. I’m not sure of my ‘tax bracket’ but from what I’ve read - it’s 12% - but Id like someone from Turbotax to confirm that.
This chart tells me it is 12%. I also need to know my state tax bracket. Who can I contact at Turbotax to confirm what it is? Then my financial planner can help me figure this out! Thank you
Filed Single
12% $9,951 to $40,525 $19,901 to $81,050
22% $40,526 to $86,375 $81,051 to $172,750
24% $86,376 to $164,925 $172,751 to $329,850
Let's just say that I was getting 35,000. Based on the above, how much would be taken out for taxes??
