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    Sherrie Morriso's Avatar
    Sherrie Morriso Posts: 1, Reputation: 1
    New Member
     
    #1

    Dec 26, 2012, 07:19 PM
    Withdrawal From my IRA at Age 68 in SC
    What tax rate will I pay on a partial withdrawal from SC Retirement Great West system? I was 68 in August and need to liquidate an asset before December 31.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
     
    #2

    Dec 26, 2012, 09:58 PM
    There will be NO Early Withdrawal Penalty, so you pay taxes at the normal rate, probably at 15%.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
     
    #3

    Dec 27, 2012, 04:23 AM
    Your tax rate is based on your income, not your age.

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