Have a Tax Question? Ask a Tax Expert
Welcome. My name is Barbara, and it will be my pleasure to assist you with your tax question today.
You will include the amount of the withdrawal as income and pay tax on that amount. You will not, however, incur any penalty for doing so since you are over 59 1/2.
Please let me know if I can assist you further.
Thank you and best regards,
I see you are now offline. Please let me know if you have any follow-up questions or need additional information or clarification. If so, please come back to me here, and I will be happy to assist you. If you have all of the information you need, please take a moment to rate my answer to you since that is an important part of being an expert on JustAnswer, and I strive for excellence.