NateTheGrEAt
Employee Tax Expert

Retirement tax questions

In addition to Holly's terrific answer, let me add a tax planning consideration. I don't know what timeframe you are planning to move, nor what other income you may have, but spreading a large withdrawal over two tax years could potentially reduce your taxes somewhat by keeping you in a lower tax bracket. 

 

For example, if you need a total of $400K, you could look at withdrawing $200K this fall and $200K in January 2024. 

 

Here's a great TurboTax article about tax brackets that you could use to assist in this type of planning.

 

Hope this is helpful. Good luck on the move!

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