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Subject:  IRA for post 65 yr olds Date:  12/5/2010  11:02 PM
Author:  mollykat Number:  67788 of 90548

I'm beginning to go dizzy trying to figure out If I should close my traditional IRA'S and pay the tax and take my chances in cash accounts. Here's my dilema all my income when I withdraw it is taxed as regular income so I lose the low rate for capital gains and can not use an occassional taxable loss to offset a gain. 2010 has been a good year of gains for me thanks to AAPL, F, MCD, D, and others. Furthermore I need the income at least quarterly. If I'd cash out everything in 2010 the tax rate would be 36% as over $200 K would be withdrawn but if gains in the future are taxed at 15 to 20% every year in the future I would be saving taxes. Of course 36% on the one time cancelling of my IRA's would be a lot. In the future though paying 15 % on my gains looks very appealing.
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