What Is A Taxable Distribution From A Qualified Retirement Plan?

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   Steve Savant

   Syndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale Arizona

   Qualified retirement plans use pretax contributions and accumulate tax deferred, but the distributions are taxable at ordinary income tax rates and are includable in the provisional income test that determines taxation on Social Security benefits, also taxed as ordinary income. Keep in mind that early distributions before 59 1/2 will also trigger a 10% penalty.

   Answered on September 3, 2013

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