Are you over 59-1/2 and having a low-income year?
12/07/2017
On December 22, 2017, The Tax Cuts and Jobs Act was signed into law. The information in this article predates the tax reform legislation and may not apply to tax returns starting in the 2018 tax year. You may wish to speak to your tax advisor about the latest tax law. This publication is provided for your convenience and does not constitute legal advice. This publication is protected by copyright.
If yes, you may be able to take an IRA distribution without any tax.
Even if you do file a return, but your taxable income is negative due to deductions and exemptions, you can also take a tax-free IRA distribution.
TAX CUTS AND JOBS ACT OF 2017
This table compares the predominate changes made by the “Tax Cuts and Jobs Act of 2017” to the tax law as it was during 2017 for individuals and small businesses.
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