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Author: Matt1344 Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121114  
Subject: Maximum Tax rate??? Date: 7/15/2011 5:44 PM
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Hi Fellow Fools,

I'm considering cashing in my IRA. Possibly half this year and half next year, or all this year, haven't decided yet. Someone said that even if I was using the standard deduction I'd still be hit with the AMT. I'm confused because if I'm not taking any unusual deductions and was still facing the AMT then why do they even have regular tax rates?

So, is there some maximum percentage I should have withheld to be sure there is enough to cover the AMT scenario? Or should I just use the 2010 forms and figure out my possible taxes assuming things will be pretty much the same this year and for 2012, unless they pass new tax rates of course.

Regards, Ken
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