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I am medically retired at age 60. what are the tax consequences of taking a $6000.00 withdrawel from my 457 account with the state of mi. for dental work. I now live on ssd
Hello and thank you for using Just Answer. What other income do you receive beside SSI?
small pension $749.00 per month
If your filing statues is single your federal income tax will be $564.00.
The amount of Minnesota tax will be $794.00. You may be eligible for Minnesota's property and rental credit if you pay property tax or rent.
Experience: 10 years self employed , Income Tax Preparation & Representation