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J
JW61
July 23, 2021
Question

Planning to make a withdrawal from my SEP. How much tax should I plan to pay, The marginal rate (22%), the effective rate from last years filing or something else

  • July 23, 2021
  • 1 reply
  • 0 views
I am over 60.

1 reply

B
Bsch4477
Employee
July 23, 2021

You would be taxed at your marginal tax rate for the tax year that it’s withdrawn. 

macuser_22
macuser_22
Employee
July 24, 2021

And depending on how much you withdraw, the distribution might increase your marginal tax rate.

 

 

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
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