topic I want to draw maxium from IRA for this year. With gross income of $34,000.00 married filing joint how much can I withdraw without paying more taxes? in Retirement tax questions

I want to draw maxium from IRA for this year. With gross income of $34,000.00 married filing joint how much can I withdraw without paying more taxes?

jane833804 — Tue, 10 Mar 2026 07:29:14 GMT

Re: I want to draw maxium from IRA for this year. With gross income of $34,000.00 married filing joint how much can I withdraw without paying more taxes?

Critter-3 — Sat, 03 Dec 2022 00:39:38 GMT

http://turbotax.intuit.com/tax-tools/calculators/taxcaster

https://www.kiplinger.com/taxes/tax-brackets/602222/income-tax-brackets

Re: I want to draw maxium from IRA for this year. With gross income of $34,000.00 married filing joint how much can I withdraw without paying more taxes?

NCperson — Sat, 03 Dec 2022 02:19:53 GMT

@jane833804 - you want to withdraw money from IRA and not pay taxes? what is your age?

if you are under the age of 59 1/2, there is a 10% tax penalty to withdraw, so the only way possible to withdraw and not pay more in taxes is that you are older than 59 1/2! (there are some circumstances where that can be waived, but if you are just withdrawing the money for your own convenience, then there are no waivers available)

WIth an income of #34,000 and filing joint, you are immediately in the 10% tax bracket, so any withdrawal will cost at least 10% in income tax (and then the 10% penalty noted above to be added to that).

and then there is state taxes....

Re: I want to draw maxium from IRA for this year. With gross income of $34,000.00 married filing joint how much can I withdraw without paying more taxes?

Opus 17 — Sat, 03 Dec 2022 03:13:35 GMT

For MFJ, the 12% tax bracket goes up to $83,550 of taxable income. Since you can claim a standard deduction of $25,900 (or more if over age 65), then you can have gross income up to $109,450 and still be in the 12% bracket. If you have $34,000 of other income, then the first $74,450 of IRA withdrawal will be taxed at 12%. Anything over that will be taxed at 22% (up to $178,000) and then 24% (up to $340,000).

If under age 59-1/2, you will also pay a 10% penalty.

There is no tax-free amount of a withdrawal from a traditional IRA. You didn't pay tax on the contributions, so you have to pay it on the withdrawals.