Bruceski44
Recycles dryer sheets
- Joined
- Apr 13, 2016
- Messages
- 191
http://laborcenter.berkeley.edu/pdf/2013/MAGI_summary13.pdf
According to the link above, qualified dividends are excluded from the definition of MAGI (Modified Adjusted Gross Income), but taxable distributions from IRA (and 401K?) accounts are included.
My question is what about qualified dividends paid to my 401K account? I recently adjusted my allocation to pay a solid 4% in qualified dividends (common stocks) and expect to withdraw these as they accumulate to live on in ER. Will those withdrawals from a traditional 401K count towards my MAGI?
I learned already about converting to Roth. I'll do that for some other accounts, but not this one.
Thanks for any and all info!
According to the link above, qualified dividends are excluded from the definition of MAGI (Modified Adjusted Gross Income), but taxable distributions from IRA (and 401K?) accounts are included.
My question is what about qualified dividends paid to my 401K account? I recently adjusted my allocation to pay a solid 4% in qualified dividends (common stocks) and expect to withdraw these as they accumulate to live on in ER. Will those withdrawals from a traditional 401K count towards my MAGI?
I learned already about converting to Roth. I'll do that for some other accounts, but not this one.
Thanks for any and all info!