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I am medically retired at age 60. what are the tax consequences

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of taking a $6000.00 withdrawel...
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
Submitted: 8 years ago.Category: Tax
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Answered in 10 minutes by:
8/1/2009
Tax Professional: Marvin,EA, Enrolled Agent replied 8 years ago
Marvin,EA
Marvin,EA, Enrolled Agent
Category: Tax
Satisfied Customers: 1,672
Experience: Enrolled to Represent Taxpayers Before The IRS
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Hello and thank you for using Just Answer. What other income do you receive beside SSI?
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Customer reply replied 8 years ago
small pension $749.00 per month
Tax Professional: Marvin,EA, Enrolled Agent replied 8 years ago

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.

Marvin,EA
Marvin,EA, Enrolled Agent
Category: Tax
Satisfied Customers: 1,672
Experience: Enrolled to Represent Taxpayers Before The IRS
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