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Level 2
May 24, 2023
Solved

Retired 401k withdrawal

  • May 24, 2023
  • 4 replies
  • 31 views

My wife and I are retired and drawing social security.  2022 was our first year paying zero income tax. Principally speaking, how much of her 401k can we draw this year and stay below the threshold for paying income taxes? 

Best answer by NCperson

use this calculator - it's set up for 2023....the TT calculator is still set to 2022. 

 

https://www.dinkytown.net/java/1040-tax-calculator.html

 

 

 

 

4 replies

Level 15
May 24, 2023
NCpersonAnswer
Level 15
May 24, 2023

use this calculator - it's set up for 2023....the TT calculator is still set to 2022. 

 

https://www.dinkytown.net/java/1040-tax-calculator.html

 

 

 

 

Level 2
May 24, 2023

Thanks for steering me toward this calculator. Grateful.