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How much should I expect to pay in fees/taxes if I withdraw $215,000 from a taxable investment account?

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  Answers  |  4

May 31, 2016

Depends on your tax bracket and state location. General answer 30 -40% Most take 10 -20% off the top to try and cover what you will owe. Look at your Federal returns past two years and see what is the percentage you paid, now add in the income of what you are withdrawing and go to the IRS tax tables- this should give you a number

$commenter.renderDisplayableName() | 02.25.17 @ 18:22

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June 08, 2016

The other answer is incorrect. I think she is referring to a qualified account like an IRA or 401(k) and not a nonqualified brokerage account.

1. The taxes you pay are based on the gain/loss of the investment. Short term gains are paid at your income tax level, while long term gains(Held over a year) are paid at 15%-20% depending on your tax bracket. If you lost money you could potentially deduct the losses from your income and then carry over the remainder.
2. No way to know with out knowing the platform and investments you have. Probably $0, but could go as high 7% with contingent deferred sales charges.

I would advise you to find out these answers before making any decisions.

Best,

Wes

$commenter.renderDisplayableName() | 02.25.17 @ 18:22

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June 08, 2016

Fees would depend on how is it currently invested? Do you have it in an annuity or B share mutual funds where there are surrender or backend fees?
What are your current year realized gains/losses? What are the unrealized gains/losses? If you'd like to discuss privately you can email me through the information on my profile here.

$commenter.renderDisplayableName() | 02.25.17 @ 18:22

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June 09, 2016

It depends on what your capital gains are, if any. The only amount that is taxable is the difference between your cost basis and sales price. Then that amount has to be Broken down between long term capital gains and ordinary gains. Capital gains are taxable at a maximum rate of 23%, if you are in the top tax bracket. Depending on your tax bracket, it more likely may be taxed at 15% or lower.

Non capital gains are added to your other income, and are taxed at your incremental tax bracket.

$commenter.renderDisplayableName() | 02.25.17 @ 18:22

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