Talk of The Villages Florida - View Single Post - Taxes on traditional IRA withdrawals
Thread: Taxes on traditional IRA withdrawals
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Old 11-12-2018, 09:33 PM
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Quote:
Originally Posted by retiredguy123 View Post
I would recommend you buy Turbotax Basic ($29.99 from Amazon or Staples). Then, you can plug in any combination of income options you want and also file your taxes at the same time.
Go to the IRS site and look for a link to free software and us that to estimate your tax. If you are using last years software your tax will probably be too high.
The money you take from the IRA is taxed just as if it was wages so you can put it on the wage line if you can not figure out the correct retirement line which can be confusing due to ROTH's.