dmertz
Level 15

Retirement tax questions

There is no 15% tax bracket.  I have assumed that $52k is the balance due, suggesting that the tax bracket that most of the $348k falls in is about 14% more than the 10% withheld for taxes, in other words, the 24% tax bracket.  It's improbable that itemized deductions would bring the tax liability for most of this income below the 24% tax bracket.