LeonardS
Expert Alumni

Retirement tax questions

The only way to know for sure how much tax will be on your withdrawal of $8,000 would be to enter all your tax information except for the withdrawal and note what your tax liability is on Form 1040 Line 16 Tax.  Enter the information on your $8,000 withdrawal and note what the tax is on Form 1040 line 16.  The increase would be the tax you pay on the $8,000 withdrawal.

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