Income from an IRA as it relates to long term disability Hi, I'm new to this site and have a disability related question:
I have recently been put on long term disability and I have an IRA that I wish to take monthly distributions from.
First my info:
I am 40 yrs old
Total yearly disability income is $17,004
I am married
My question is since I'm on disability do I have to pay income tax on all money that I take out of the IRA? How much can I take out before my disability is taxed and/or my disability payment is reduced?
Does anyone know if income from an IRA is treated the same as income from working as it relates to disability?
I do know that I don't have to pay the 10% early distribution fee because I'm on disability.
Many thanks for any help! |