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sponchot67
New Member

Since I will be 73 in 2023, what portion of my Roth IRA must I pay tax on?

How can I calculate how much I must pull from my Roth IRA and pay on my 2023 taxes?
posted
‎February 26, 2024 11:24 AM
last updated ‎February 26, 2024 11:24 AM
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VolvoGirl
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

Since I will be 73 in 2023, what portion of my Roth IRA must I pay tax on?

You don't have to take a RMD Required Minimum Distribution from a ROTH IRA .  And ROTH distributions are tax free if you had  the account 5 years.  That's the benefit of a ROTH.

 

See IRS pub 590B page 31

https://www.irs.gov/pub/irs-pdf/p590b.pdf 

 

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‎February 26, 2024 11:41 AM
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VolvoGirl
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

Since I will be 73 in 2023, what portion of my Roth IRA must I pay tax on?

You don't have to take a RMD Required Minimum Distribution from a ROTH IRA .  And ROTH distributions are tax free if you had  the account 5 years.  That's the benefit of a ROTH.

 

See IRS pub 590B page 31

https://www.irs.gov/pub/irs-pdf/p590b.pdf 

 

‎February 26, 2024 11:41 AM
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