Normal IRA distributions (meaning you take the IRA distribution when you are over age 59 ½) are included in your taxable income in the calendar year in which you take the IRA distribution.
How Much Tax Will I Pay On The IRA Distribution?
The total amount of tax you pay on an IRA distribution will depend on the total amount of income and deductions that you have that year.
The amount of your IRA distribution is added to other sources of income you have to determine your adjusted gross income. Allowable deductions will reduce your adjusted gross income to come up with your taxable income.
Additional Taxes On Early IRA Distributions
If you are not yet age 59 ½, a 10% penalty tax will also apply to the IRA distribution, unless you qualify for an exception.
Learn more about early IRA withdrawals in:
IRA Early Withdrawals – Taxes, Penalties and Exceptions