How much tax will the IRA take from a 5,000 withdrawal from an IRA account. I am so confused. Is it 10% or does it depend on the tax bracket your in I'm in the 25% bracket?
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ANSWERS: 1
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You will pay 10% penalty on the money if you are not over 59.5 AND you will pay the 25% tax bracket you are in. And your State may also want some penalty money and their taxes on the money if you have State taxes.
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