What is the federal tax rate from an inherited IRA from a friend?
Also the Wisconsin tax rate as well, links are A+
- curtisports2Lv 74 weeks ago
Whatever YOUR marginal tax rate is. There is no flat tax rate. The amount you receive from an inherited IRA distribution is taxed as ordinary income. Without knowing your entire tax picture, other income, filing status, credits you have coming, other possible deductions etc, NOBODY can tell you what your marginal tax rate is.
- NALv 71 month ago
It's whatever bracket cashing out the IRA pushes you into.
- Wayne ZLv 71 month ago
Federal: 12-37% depending upon your total income for the year.
Wisconsin: 4-7.65% depending upon your total income for the year.A safe bet is to assume 22% federal and 6.27% for Cheeseheadland.