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11-12-2018, 10:30 PM
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Sage
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Join Date: Aug 2009
Location: NJ, NM, SC, PA, DC, MD, VA, NY, CA, ID and finally FL.
Posts: 7,401
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Quote:
Originally Posted by rjm1cc
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.
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It is not taxed as wages (earned income) as there are no deductions for social security. It is simply taxed as income.
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