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sgooch41
New Member

If I turned the minimum age requirement this year, do I pay tax on my income all year?

How much of my retirement income is taxable since turned the minimum age requirement this year?
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2 Replies

If I turned the minimum age requirement this year, do I pay tax on my income all year?

Your age doesn't matter.  All your income taxable.  Are you asking about the RMD Required Minimum Distribution?  When you turn 73 you have to start taking the RMD from your IRA and 401K accounts.  You will get a 1099R at the end of year for each one.  

 

Are you asking about Social Security?  At any age up to 85% of Social Security becomes taxable when all your other income plus 1/2 your social security, reaches:

Married Filing Jointly: $32,000

Single or head of household: $25,000

Married Filing Separately: 0

 

Or are you asking about a state return?  

If I turned the minimum age requirement this year, do I pay tax on my income all year?

unlike before and after age 59 1/2, there is no special rule for withdrawal after age 72 and before age 73.

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