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Social Security Tax

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I am currently contributing to private 457(b) plan.

I understand that I will have to pay state and federal income tax when I decide to withdraw from this account.

My question is will I also have to pay social security and medicare taxes upon withdrawal?

 

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If that is indeed the case then it would seem like a case of double taxation.

When I earned the money in the first place it was subject to Medicare tax.

In regards to Social Security I had already paid the maximum amount possible during the years that I earned the money.

Somehow that doesn't seem right.

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I this answer was posted in haste. Social Security/Medicare is only assessed against earned income, and that occurs when the money in a retirement account is earned -- it is not deferred as federal and state taxes are. Only straight income taxes are assessed when the money is withdrawn from the retirement account

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