Are there ways to reduce taxes on IRA withdrawals(not Roth)for persons above the age of 59.5,beyond usual Sched A, etc?I don't live in US?

Best Answer:

stephen: Withdraw only enough to keep you from moving to the next tax bracket.

Withdraw only what you need.

If you are planning on making charitable contributions, make them directly from your IRA to the charity. These are not included in your gross income as long as income guidelines are met and you don't need to itemize to get the tax benefit. This may help to avoid the Medicate High Income Surcharge and reduce the percentage of your Social Security benefits that are taxable since the amount donated is not included in your AGI.

Other answer:

stephen:
the only way I can see to not owe on the IRA distribution is not to have any taxable income and the distribution is less than your non taxable income
mercedes:
No. Next question please.
Pascal the Gambler:
Not really, no.
Robt:
Yes, don't have much money totally
Share

Leave a Reply

Your email address will not be published. Required fields are marked *