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I am 63 years old, cashed in an IRA back in May $3500.00

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I am 63 years old...
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: 2 years ago.Category: Tax
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Answered in 2 minutes by:
12/1/2015
Tax Professional: Lev, Tax Advisor replied 2 years ago
Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 30,628
Experience: Taxes, Immigration, Labor Relations
Verified

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.

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Tax Professional: Lev, Tax Advisor replied 2 years ago

I appreciate if you take a moment to rate the answer.

Experts are ONLY credited when answers are rated positively.

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

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Lev
Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 30,628
30,628 Satisfied Customers
Experience: Taxes, Immigration, Labor Relations

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