1099R Only

[PFAKENNY]

What is the name of your state? CA

I will get about $30,000 per month by all 1099R income ONLY.
Is there any way to minimize income tax liablity?

Thank you in advance!!

 

[LdiJ]

What is the name of your state? CA

I will get about $30,000 per month by all 1099R income ONLY.
Is there any way to minimize income tax liablity?

Thank you in advance!!

No, there is honestly no way to minimize your income tax liability. Other than your schedule A deductions (and you will probably be subject to AMT) there is nothing that will reduce your tax.

 

[CAowner]

Are you saying that you make $360,000/year in retirement income and have no other income (from investments...capital gains, interest, dividends, etc)? Do you spend all $360,000 every year?

There may be a variety of things you can do to reduce tax liability, but you need to provide more info. Better yet, see a tax professional. At that income level, you can afford it.