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Retirement tax questions
I took a shot using 2020 software
1. Assuming you are Single.
2. $24,000 is SS
3) $63,500 is pensions/IRA/401k distributions (none are ROTH distributions nor have any after-tax contributions)
4) Std Deduction of $14,050 (will be slightly higher for 2021)
5) The extra cash charity income deduction of $300
6) Zero other income...meaning no Cap Gains and no interest or dividends of any kind.
Fed taxes would total right at ~$11,100
____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
‎July 16, 2021
10:27 AM
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