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If you pay tax on an ira withdrawal at the time of the

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withdrawal do have to include...
If you pay tax on an ira withdrawal at the time of the withdrawal do have to include that money as income on your tax return? Thank you
Submitted: 2 years ago.Category: Tax
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2/26/2016
Tax Professional: Stephen G., Sr Income Tax Expert replied 2 years ago
Stephen G.
Stephen G., Sr Income Tax Expert
Category: Tax
Satisfied Customers: 7,439
Experience: Extensive Experience with Tax, Financial & Estate Issues
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Yes, the tax you pay is only the estimated tax withheld. The actual tax depends upon the amount of your other income when added to the IRA withdrawal and then you will receive credit for the amount of tax withheld just like you do when you receive credit for the income tax withheld on your salary or wages.

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Tax Professional: Stephen G., Sr Income Tax Expert replied 2 years ago

I see that you have had a chance to review my response.

Do you have any additional follow-up questions?

If not, please remember to rate my response as that is the only way we receive credit for our work.

Thanks very much,

Steve G.

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