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IRA withdrawals are taxable at income rates: 37% for that kind of jack. He's delaying rather avoiding. If he was really smart, he'd have done this outside of
by drocer88 6y ago
IRA withdrawals are taxable at income rates: 37% for that kind of jack. He's delaying rather avoiding. If he was really smart, he'd have done this outside of a retirement account and paid the 20% capital gains rate.
- whitepoplar 6y agoHe did it in a Roth IRA.
- drocer88 6y agoDid he? All I can find is that it was a SEP-IRA : https://www.forbes.com/sites/forbesfinancecouncil/2018/08/03/mitt-romneys-retirement-account-makes-case-for-roth-iras/#34ff0702215a https://www.forbes.com/sites/forbesfinancecouncil/2018/08/03... "At the time, Mr. Romney was not able to use a Roth IRA to make these investments because his income tax bracket exceeded the allowable threshold."