taxes on withdrawal column

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lazybird
Posts: 2
Joined: Wed Feb 09, 2022 7:40 pm

taxes on withdrawal column

Post by lazybird »

For me this column always shows zero for all entries when I show Detailed View and Show More Details. My understanding is that these withdrawals are to cover any gap from other income or RMDs. Since they are coming from my taxable account, shouldn't they be something other then zero. Or, is this tax accounted for in some other way?
jimr
Posts: 821
Joined: Thu Feb 28, 2008 6:48 pm

Re: taxes on withdrawal column

Post by jimr »

If all withdrawals come from the taxable portfolio, there would be no taxes due because the taxable portfolio is carried at a 100% cost basis. Gains are taxed as they happen year-to-year (at the investment tax rate).

Does that help explain what you're seeing?
lazybird
Posts: 2
Joined: Wed Feb 09, 2022 7:40 pm

Re: taxes on withdrawal column

Post by lazybird »

Yes, that explains it. Thank you.
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