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Retirement tax questions
The IRA withdrawal will be taxable and will add to your taxable income. Also, if you are aged under 59 1/2 at the time of withdrawal, you have to pay an early withdrawal penalty of 10%.
Assuming that you are single, the tax brackets for 2025 show that this amount of $179,000 would add about $50k of taxes to your return. If you are under 59 1/2, add another $17.9k.
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‎April 9, 2025
11:48 AM