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Bee14
New Member

Retirement revenue

What is the tax rate for pension and 401k?

 

posted
‎November 16, 2022 11:21 AM
last updated ‎November 16, 2022 11:21 AM
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NateTheGrEAt
Expert Alumni
Expert Alumni

Retirement revenue

Hi @Bee14 

 

Pension and 401k withdrawals do not have a special tax rate. They are taxed as ordinary income, which depends on the total amount of your income. This IRS update states what the tax brackets and rates will be for 2022 returns.

 

I hope this information is helpful!

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‎November 16, 2022 12:25 PM
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