966678
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

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

What are the tax consequences of cashing out ira when married filing jointly?

 
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 Reply

What are the tax consequences of cashing out ira when married filing jointly?

Assuming the IRA was funded with pretax dollars and you file jointly the distribution is taxed at whatever your tax bracket is.  If your distribution was premature without an exception you will also pay a penalty. 

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question