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Retirement tax questions
From the description it looks like you are asking abut how much of your social security income will be taxed. This link will give you a little more detail regarding how your social security is taxed (https://www.ssa.gov/benefits/retirement/planner/taxes.html)
Regarding your IRA or 401K, this depends on a couple items:
- For an IRA or 401K, there is no "split" like on Social Security.
- Is it a Roth IRA / 401K?
- Is there a cost basis (sometimes people contribute to an IRA and it is not deductible. You would have filled out a Form 8606 on your tax return).
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‎July 26, 2023
10:17 AM