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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.
March 14, 2021
10:29 AM