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lpdaggett
New Member

Does a traditional IRA withdrawal get taxed to pay my 2016 taxes? I am 68 years old

 
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KenH1
New Member

Does a traditional IRA withdrawal get taxed to pay my 2016 taxes? I am 68 years old

A traditional IRA withdrawal will always be part of gross income, regardless of age, and then applied against your deductions and exemptions.

For those under 59.5, there is also a 10% early withdrawal tax, but the IRS has some exceptions.

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KenH1
New Member

Does a traditional IRA withdrawal get taxed to pay my 2016 taxes? I am 68 years old

A traditional IRA withdrawal will always be part of gross income, regardless of age, and then applied against your deductions and exemptions.

For those under 59.5, there is also a 10% early withdrawal tax, but the IRS has some exceptions.

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