No. of Recommendations: 0
Am I taxed on withdrawals?

I COULD be, I suppose, but even with an overall income of more than $40,000/year (including Social Security) for the two of us, I paid ZERO income taxes for the two years prior to last year, but miscalculated, took a bit too much, and ended up paying about $150 federal income tax last year. (That is total -- not just end of the year.)

Thanks for giving a real world example of a point I've been making on this board for years; that while Roths have some advantages, they don't necessarily offer a tax advantage over traditional IRAs.

Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.