I have a similar question. I am retired. i have an IRA which is a roll-over from a 401-(k) which is all based on pre-tax savings. I also have 2 small pensions from companies I have worked for and I receive Social Security. All of my holdings are funded from pre-tax money. As I understand it I will be taxed as I withdraw funds either as a mandatory redemption for persons u\over 70-1/2 or as discretionary withdrawals. Am I right?