I received a response to my question about taxable income for retirees but it did not answer my question. I may have used the wrong terminology and if so I apologize. I want to know how withdrawals from an IRA account where I deducted my contributions, so no tax was paid at that time. My understanding is that the withdrawals are treated as ordinary income and taxable. My only income is my monthly Social Security. I’m not yet subject to the minimum distribution. Will I have to pay taxes if the amount of my withdrawal is less than the standard deduction which I believe is around $28,000 for married retirees over 65?
