Get the daily email about stock.

Please Enter Your Email Address:

By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

01 Jun, Thursday
° C

Bull Trader USA

Tax Guy: How to pay taxes on an IRA withdrawal — and the right way to report it to the IRS

When you take withdrawals from your traditional IRA, you probably understand they are “taxable.” But what does “taxable” really mean? Good question. Here are the answers.

Step 1: Figure out how many traditional IRAs you have

If you have several traditional IRAs, you must add them together and treat them as one account to determine the federal income tax consequences of taking withdrawals from any of them.


Post a Comment