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Retirement tax questions
Taxable Traditional IRA distributionx are taxed as ordinary income so the tax rate depends on the total amount of taxable income that you have so the tax rate can be between 0-37%. CARES act distributions are not subject to the additional 10% penalty if under age 59 1/2.
Roth IRA distributions may or may not be taxable at all depending if you only remove your own contributions or remove any earnings.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
‎June 17, 2020
7:55 AM