Federal Tax brackets are based on filing status. 2023 tax brackets are reflected in the following link, with an explanation of how taxable income is taxed at varying percentages.
https://www.irs.gov/filing/federal-income-tax-rates-and-brackets
The 2023 rates have been adjusted for inflation and can be seen by following the link in the above article.
When taking distributions from your investment account, you will have either have a short term or long term capital gain based on how long you have held the investment that you sell. Short term capital gains will be taxed as ordinary income under the above rates. Long term capital gains will be taxed at 0%, 15% or 20%, depending on your taxable income and filing status. The IRS link below provides the taxable income amounts and capital gain tax rate % based on your filing status.
https://www.irs.gov/taxtopics/tc409
When drawing from your investment account you will need to know the gain or loss on the investment your are selling vs the amount of distribution you are receiving to determine the tax impact.
Taxable income is the amount to consider when looking at the above tax tables.
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