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Lev, Tax Advisor
Category: Tax
Satisfied Customers: 28081
Experience:  Taxes, Immigration, Labor Relations
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Capital gains tax on early IRA withdrawal

Resolved Question:

I am 66 years old and have a fairly sizeable IRA. I know that I have to begin taking money from the IRA before age 70 1/2. I am in about a 26% tax bracket now. I understand the 15% cap on capital gains may have a limited life.

My question is: should I begin taking IRA withdrawals now to minimize my capital gains tax as opposed to waiting until after the 15% cap expires?
Submitted: 10 years ago.
Category: Tax
Expert:  Lev replied 10 years ago.
Distribution from IRA is not considered capital gain. It will be taxed at your regular tax rate.
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