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J
jaimenavarro1972
December 17, 2019
Question

What are the tax consequences of cashing out ira when married filing jointly?

  • December 17, 2019
  • 1 reply
  • 0 views
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1 reply

B
Bsch4477
Employee
December 18, 2019

Assuming the IRA was funded with pretax dollars and you file jointly the distribution is taxed at whatever your tax bracket is.  If your distribution was premature without an exception you will also pay a penalty. 

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