Anonymous
Anonymous asked in Business & FinanceTaxesUnited States · 1 month ago

What is the federal tax rate from an inherited IRA from a friend?

Also the Wisconsin tax rate as well, links are A+

3 Answers

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  • 4 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.

  • NA
    Lv 7
    1 month ago

    It's whatever bracket cashing out the IRA pushes you into.

  • 1 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.

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