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Retirement tax questions
Roughly right....except that 500k is in 35% bracket...could end up being more than 50k added tax. a lot depends on how much other income you have to include, BEFORE entering the 1099-R data.
and the 10% penalty...yeah, another 50k unless you qualify for a COVID exception.
____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
ā€ˇFebruary 4, 2021
7:17 AM