Retirement tax questions

$5000

 

TT is trying to determine if the part above $5000 (the earnings ) is taxable.  

 

If you are over 59.5, then there is not going to be any tax in any event

if you are under 59.5, the portion over $5,000 is taxable and subject to a 10% penalty. 

 

this assumes no Roth conversions occurred.

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