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Posted on 5/23/13 at 9:19 pm to roguetiger15
quote:quote:It'll just go up
Actually, I thought the 3.8% applied to a wider income group than it apparently does though . . . . at least fewer folks are getting hosed than I thought.
Posted on 5/23/13 at 9:23 pm to NC_Tigah
Question- In a roth ira do I pay taxes on dividends or gains?
Posted on 5/23/13 at 9:26 pm to wegotdatwood
Not if you pull it out for a qualified distribution.
Posted on 5/23/13 at 9:27 pm to Volvagia
Cool, plan on pulling it when I'm in my 60's.
Posted on 5/23/13 at 10:23 pm to Volvagia
What about on a traditional?
Posted on 5/24/13 at 12:57 am to wegotdatwood
No distinction between gains. Gets taxed as income.
So if you pull 60k one year, tax wise it's the same as having a job that paid 60k.
You can use deductions, excemptions, etc.
So if you pull 60k one year, tax wise it's the same as having a job that paid 60k.
You can use deductions, excemptions, etc.
Posted on 5/24/13 at 1:17 am to Volvagia
Even if you reinvested and didn't take anything out?(Talking about traditional in this case)
This post was edited on 5/24/13 at 1:18 am
Posted on 5/24/13 at 9:01 am to wegotdatwood
That is the trade off with traditional.
Get to deduct the contributions from income on your taxes, but you have to pay on everything later.
Get to deduct the contributions from income on your taxes, but you have to pay on everything later.
Posted on 5/24/13 at 9:06 am to Volvagia
quote:
but you have to pay on everything later.
Like as in during tax season? Or when you pull during retirement?
Posted on 5/24/13 at 9:11 am to wegotdatwood
If you pull in retirement, it is taxed as income from a job.
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