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If I pulled out my 401K under the CARES and it made my 2020 taxable rate go from my regular 22% to 24% after the standard deduction, what options do I have for reducing?
So this is because I lost my job due to COVID. The goal is to try and stay at the 22% taxable rate NOT 24% (up to 171,050 - after deductions) Ill be at APPROX 188,000 after deductions by my calculations by EOY 2020) I took the 100K out already, can I put back some into an IRA in January to have it equal or less than 171k in order to be taxed at only 22%? OR what options do I have?
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‎October 28, 2020
7:04 PM