Just a quick question:My sister just retired. She has a 401K that she is planning to take out over a 10 year period. It is not a lot of money. She will get about $800 per month in addition to her social security. My question is this:Since the distribution in addition to her social security will add up to about $1,600 per month ($800 + $800), will she have to pay any tax? Her "income" from her 401K will only be about $9,600 per year. I can't imagine that she would have to pay much tax on that amount. She is saying that she will.Feedback would be appreciated.Thanks!Pearl
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar<