I am disabled and paid no tax last year. How do I figure out how much money I can withdraw and stay in a lower tax bracket?
- posted
11 years ago
I am disabled and paid no tax last year. How do I figure out how much money I can withdraw and stay in a lower tax bracket?
Even though I've written articles on this topic for my own blog,
Well, one approach is to use the top of the 15% bracket (plus itemized/standard deduction and exemptions) to figure how much adjusted gross income to have. You also need to consider whether you are over age 59 1/2, which means you aren't subject to the 10% additional tax, and whether you need all of this to live on. If you don't, do a Roth conversion for the balance. So, it's not a simple answer.
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