turbotax icon
turbotax icon
turbotax icon
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

p_p_56
New Member

If I am 60 do I have to pay additional tax on money I withdrew from my IRA the bank withheld 10%

 
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions

If I am 60 do I have to pay additional tax on money I withdrew from my IRA the bank withheld 10%

You won't have the 10% Early Withdrawal Penalty for being under 59 1/2.  But after you add the withdrawal to your other income the 10% the bank took out may not be enough and you might owe more.

View solution in original post

1 Reply

If I am 60 do I have to pay additional tax on money I withdrew from my IRA the bank withheld 10%

You won't have the 10% Early Withdrawal Penalty for being under 59 1/2.  But after you add the withdrawal to your other income the 10% the bank took out may not be enough and you might owe more.
Manage cookies