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Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 28084
Experience:  Taxes, Immigration, Labor Relations
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I am 63 years old, cashed in an IRA back in May $3500.00

Customer Question

I am 63 years old, cashed in an IRA back in May $3500.00 what will I have to pay when I file my taxes
Submitted: 1 year ago.
Category: Tax
Expert:  Lev replied 1 year ago.

Based on your age - there is no penalty - but distributed amount will be added to your other taxable income.

I will estimate your tax liability - but woudl need to know your other income.
Do you have social security benefits? If yes - what is the amount?
Other taxable income? wages? pension? rental income? other? Please provide amounts.
I will estimate your tax liability if any.

Expert:  Lev replied 1 year ago.

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If you still have any doubts, need clarification - please be sure to ask.
I am here to help you will all tax related issues.