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September 23, 2024
Question

401k Distribution

  • September 23, 2024
  • 1 reply
  • 0 views

My tax circumstances have changed for 2024. Trying to find a way to stay in the 12% bracket and max out a 401k withdraw. Is there some estimator calculator to figure the max amount for 2024? This year, Head of Household, unemployment $6400, SS $15,000, Farm Loss let's say -$5000. Wouldn't mind subscribing to live advice but looks like  it isn't available till December.

Thanks

    1 reply

    Employee
    September 23, 2024

    This is one of many available online. 

    https://www.calculator.net/tax-calculator.html

    September 23, 2024

    Thank you although this one won't accept a negative number for a business loss.

    Employee
    September 23, 2024

    Subtract your business loss from your anticipated 401-K withdrawal and enter that amount in the calculator.