Tax Law (Questions About Taxes)/IRA withdrawal


QUESTION: Social Security is my only source of income. For 2013, my total benefits from Social Security will total $12,072.

What would be the maximum amount I could withdraw from a traditional IRA in 2013 and remain in the 15% tax bracket?



Thanks for your question.

That depends on your filing status, your age, and and age of your spouse if applicable.  Also, if you itemize or take the standard deduction. There is too many variations for me to give an answer based on the information you provided.

Get me that information, and I'll give you an answer.

John Stancil, CPA

---------- FOLLOW-UP ----------

QUESTION: Single. No dependents. Will be 66 years of age later this year. Standard deduction. Sorry for neglecting to include this info in my question.


Thanks for your question.  

The number is hard to pin down because at that level 50% or none of your SS is taxable.  However, you would not have any SS taxed and your marginal bracket would be 15% if you had $24,178 in withdrawals.  

Above that level 50% of your SS would be taxable at 15% until you had taxable income exceeding $36,250.  Your taxable income is IRA withdrawals plus the taxable portion of your SS minus $3,900 for your exemption and minus $6,100 personal exemption.

I know this is a little complex, but there is not a simple answer to this question.  Hope this helps.

John Stancil, CPA

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John Stancil, CPA


I can answer questions on personal income taxes, partnerships, and some corporate income taxes. I can deal with some state tax questions. Limited gift and estate tax questions. I am also familiar with ministerial and church tax reporting issues. I am Professor Emeritus at Florida Southern College. Sales taxes and property taxes are state and local issues so I am not likely be be able to give you an in depth answer on those types of taxes. I have maintained a CPA practice, specializing in tax, for over 35 years. I am a member of the National Association of Tax Professionals, The Florida Insititute of CPA's, The NCPE Fellowship. In addition I am a Certified Mentor for SCORE. Visit my website at I also offer seminars and consultations to churches and clergy on their tax issues at Also visit my blog, I am listed on Tax Connections at Prepare and file your own taxes at


I hold a doctorate in Accounting, and am a CPA. My certifications of CIA, CFM, and CMA are inactive. I passed all certification examinations on the first attempt, and received honorable mention for my scores on the CIA exam. I have operated a CPA firm for over 37 years and have taught accounting and tax at the college level for over 35 years.

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The CPA Journal, Florida CPA Today, Green Consumer, Green Business, Global Sustainability as a Business Imperative, Palmetto Review, NATP TaxPro Quarterly, Mustang Journal of Finance and Accounting.

DBA University of Memphis MBA University of Georgia BS in Accounting Mars Hill University

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