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ALL amounts withdrawn are taxable. The entire point of a traditional IRA is that you don’t pay tax on the contributions and you don’t pay tax on the earnings or gains over the years, so you pay tax on everything you withdraw in retirement.
All withdrawals from a traditional (pre-tax) IRA are taxed as ordinary income.
Yes. All withdrawals from traditional IRA's are taxable. However, there are no penalties for ages over 59.5.
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Thanks for your reply. I was also trying to determine what portion of the distribution is taxable. (ie., only interest earned, tax deductions taken for making deposits, etc.).
Would appreciate any further info. Thank you.
ALL amounts withdrawn are taxable. The entire point of a traditional IRA is that you don’t pay tax on the contributions and you don’t pay tax on the earnings or gains over the years, so you pay tax on everything you withdraw in retirement.
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