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IRA and Social Security
Old 06-14-2006, 08:39 AM   #1
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IRA and Social Security

I know you have to pay income tax when you withdraw from an IRA. I've searched the archives and can't find an answer to the following question:

Do you have to pay Social Security and Medicare tax when you take an IRA distribution or is it exempt?

Thanks.
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Re: IRA and Social Security
Old 06-14-2006, 10:00 AM   #2
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Re: IRA and Social Security

There is no social security/medicare tax to pay on your IRA distributions. Only income tax (unless of course it is a Roth IRA, then no income tax either).

What gets confusing is that distributions from a taxable IRA may create a situation where you end up paying income tax on part of the social security benefits you collect. There has been a lot of discussion on that issue on this forum lately.
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Re: IRA and Social Security
Old 06-14-2006, 10:31 AM   #3
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Re: IRA and Social Security

Thanks, Martha. I have been following the discussions on having to pay tax on social security. Just one more thing to digest in my ER planning.
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