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Thread: tax question.....

  1. #11
    Senior Member
    WildBoar's Avatar
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    Feb 2011
    Quote Originally Posted by sudsy9977 View Post
    I am not 59 or using it for medical bills or a house or the other things they list so i assume i have to pay he tax on ONLY my gains? if i am in whatever tax bracket....lets say 25 percent.....does that mean literally i pay 25 percent tax on it?.....i know thats probably a stupid question but......
    Yes, that is correct. Plus state income tax, etc.

    Quote Originally Posted by sudsy9977 View Post
    My other thought is.....lets say I didn't tpake any money out and aim supposed to get back a thousand dollars on my taxes......lets say with my Ira i wind up having to pay a thousand in tax.....does that mean i am at 0 and don't have to pay anything ?.....Ryan
    Correct. If you overpaid $1k, then owed $1k for the withdrawl, it would balance out to 0.
    David (WildBoar's Kitchen)

  2. #12

  3. #13
    Thanks guys

    viva la revolucion !

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