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Deductions & credits
Except that it works in reverse as well -- Whether I add or deduct $1000 from my IRA distribution, the impact on my tax is exactly $270 up or down. Looking at the tax worksheet, it appears to me that these are being tax as both Capital Gains (15%) AND regular income (12%), which would explain the 27% impact which appears no where in the tax tables.
‎June 28, 2024
8:45 AM