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I had an IRA withdraw of $38,000. My tax bracket is 28%. How…

I had an IRA...

I had an IRA withdraw of $38,000. My tax bracket is 28%. How much will I owe in taxes on this $38,000?

Accountant's Assistant: The Accountant will know how to help. Please tell me more, so we can help you best.

What more should I share?

Accountant's Assistant: Is there anything else the Accountant should be aware of?

I just wanted to know about this one withdrawl

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Answered in 2 minutes by:
3/27/2018
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 18,221
Experience: 15years with H & R Block. Divisional leader, Instructor
Verified

Hello, I'm Robin. Welcome to JustAnswer. I'm reviewing your question now and typing up my reply. I'll post that in just a few moments.

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That $38000 is added to your other income so trying to calculate for that one withdrawal is not correct.

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Customer reply replied 3 months ago
Is there a way to estimate what this $38k will add to our tax burden?

You have to add all your income together then the tax rate would apply.

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Tell me what your income is and I will estimate

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Customer reply replied 3 months ago
$210k, filing as a couple.

Ok one minute...........................

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That $38000 would add $11000 to your tax liability.

That is before applying any tax withholding

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Customer reply replied 3 months ago
Thank you!

You are most welcome

A positive 5 star rating is appreciated so I am credited for assisting.

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Customer reply replied 3 months ago
Would be happy to. Is that in a follow-up email?

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Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 18,221
Experience: 15years with H & R Block. Divisional leader, Instructor
Verified
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