Keyword Analysis & Research: 2021 federal tax brackets for retirees

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Frequently Asked Questions

What is the tax rate when you retire?

Currently, federal income tax rates range from 10 to 37 percent, depending on your income level and marital status. Expect to get hit with taxes on your retirement income from things like a pension, annuity, IRA, 401 (k), defined benefit plan, 457, or other pre-tax retirement accounts.

Is retirement taxed?

The gain portion is considered taxable retirement income. Income from an immediate annuity that was purchased with after-tax money: When you buy an immediate annuity with after-tax money, a portion of each payment you receive is interest, and a portion is a return of principal. The interest portion is taxable.

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