Hi
I am 60 years old and retired. I have a question. I find that I need to withdrawal money each year from my IRA to pay taxes of the money that I with-drawled last year to pay my taxes. I believe that I am paying taxes on money I with-drawled to pay taxes the year before. This is a viscous cycle. that go on year after year. Am I doing something wrong? or is this really how it works. I need to withdrawal more money again this year to pay for the money I withdrew last year to pay my taxes. Seems like a ripoff. Any help or thoughts would be very much appreciated. Thank You..
