Pension Question
I have a client who rolled over a small pension and a 457 from different companies. How is the state income tax different between the two?
- Alabama just passed an exclusion for 401k and IRA distributions starting this year for ages 65 and above. See following link:
- 2023 Alabama Tax Cut for Retirees with 401k and IRA Distributions – Dent Moses, LLP
Permalink Submitted by Alan - IRA critic on Fri, 2023-04-07 17:23
Between leaving the plans in place v IRA taxation? Usually the same, but there are a few states that treat IRA distributions differently.