Apr 22

I know it’s taxed when you get the money from traditional IRA, but is it taxed on your current income bracket or the amount of money you take out?

say you retire earlier and sell your biz.. so you pay no income tax, then even if you take out your IRA early, pay 10% penalty, do you still pay income tax on the money?

one comment so far...

  • the tax lady Said on April 22nd, 2010 at 4:55 pm:

    It will depend on what your total income is in the year you take the distribution.

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