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Get your taxes done using TurboTax
A withdrawal from a traditional IRA that exceeds the standard deduction amounts mentioned by JanD9 will trigger tax. After subtracting the standard deduction, the next $11,000 in income is taxed at 10%.
A withdrawal from a Roth IRA is not taxable, as you paid tax on the money before you contributed it to the account.
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‎October 25, 2023
1:07 PM
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