redeeming traditional IRA and income tax incurred?

[Bill Doug]

I would like to learn how (and how much) redeeming various amounts of my traditional IRA will determine the extent of my income tax due?

[Holly W]

Hello Bill Doug,

Thank you for joining us today!  

Assuming you are cashing out (redeeming) various amounts of your Traditional IRA throughout the tax year, your net distributions will increase your taxable income, as you made contributions pre-taxed, they are taxable when distributions are made.  
The various amounts and times through out the year will have the same net effect at tax time. You will receive a 1099-R for the full amount of all distributions.  Box 7 will determine the taxability of these distributions.  

If you are under 59.5, you may owe a 10% penalty unless you qualify for an exception.  
Here are some helpful links that will cover taxability of IRA's.  

Traditional IRA's - IRS
Traditional & Roth IRA's - IRS

Exception to 10% Chart - IRS