https://ttlc.intuit.com/community/taxes/discussion/investment-account-and-ira-withdrawal-tax-impacts-in-year-turn-59-1-2/01/3399542#M1253138 <P><SPAN>We are retired and had no income in 2023 and 2024 (we lived off savings and filed married jointly return). Since I will turn 59 1/2 in 2025, and we plan to withdraw money from a taxable investment account and potentially my IRA to live on, does the withdrawal qualify as regular income (same as if I had a paycheck) in terms of tax return? We are trying to determine how much &nbsp;reported income we’ll have in 2025 to see what kind of health insurance for 2025 we can get from ACA or private insurance.</SPAN></P> Wed, 30 Oct 2024 19:02:17 GMT Fernando10 2024-10-30T19:02:17Z https://ttlc.intuit.com/community/taxes/discussion/investment-account-and-ira-withdrawal-tax-impacts-in-year-turn-59-1-2/01/3399542#M1253138 <P><SPAN>We are retired and had no income in 2023 and 2024 (we lived off savings and filed married jointly return). Since I will turn 59 1/2 in 2025, and we plan to withdraw money from a taxable investment account and potentially my IRA to live on, does the withdrawal qualify as regular income (same as if I had a paycheck) in terms of tax return? We are trying to determine how much &nbsp;reported income we’ll have in 2025 to see what kind of health insurance for 2025 we can get from ACA or private insurance.</SPAN></P> Wed, 30 Oct 2024 19:02:17 GMT https://ttlc.intuit.com/community/taxes/discussion/investment-account-and-ira-withdrawal-tax-impacts-in-year-turn-59-1-2/01/3399542#M1253138 Fernando10 2024-10-30T19:02:17Z https://ttlc.intuit.com/community/taxes/discussion/re-investment-account-and-ira-withdrawal-tax-impacts-in-year-turn-59-1-2/01/3399545#M1253139 <P>It counts as regular income.&nbsp;</P> Wed, 30 Oct 2024 19:04:57 GMT https://ttlc.intuit.com/community/taxes/discussion/re-investment-account-and-ira-withdrawal-tax-impacts-in-year-turn-59-1-2/01/3399545#M1253139 Bsch4477 2024-10-30T19:04:57Z https://ttlc.intuit.com/community/taxes/discussion/re-investment-account-and-ira-withdrawal-tax-impacts-in-year-turn-59-1-2/01/3399549#M1253140 <P>Yes the IRA withdrawal is taxed as ordinary income like your paychecks.&nbsp;<SPAN>See IRS publication 590B for IRA Distributions</SPAN></P><P class=""><SPAN class=""><A href="https://www.irs.gov/pub/irs-pdf/p590b.pdf" target="_blank" rel="noopener">https://www.irs.gov/pub/irs-pdf/p590b.pdf</A></SPAN></P> Wed, 30 Oct 2024 19:06:32 GMT https://ttlc.intuit.com/community/taxes/discussion/re-investment-account-and-ira-withdrawal-tax-impacts-in-year-turn-59-1-2/01/3399549#M1253140 VolvoGirl 2024-10-30T19:06:32Z