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401(k) and IRA distributions: Taxable. Alaska. Alaska doesn’t have a state income tax, which means no additional taxes on your retirement income, regardless of how you invested. ⭐ Quick facts ...
These 37 states tax IRA and/or 401(k) distributions. For many people, 401(k) accounts and IRAs supply another key kind of retirement income. A whopping 37 states -- plus the District of Columbia ...
All 27 states below, plus the District of Columbia, currently treat IRA and 401(k) withdrawals as regular taxable income even if you've already reached your full retirement age and are officially ...
Here's a look at how various states tax retirement income. The nine states that don't tax income. When it comes to the taxation of income, you're in luck if you live in one of the following states ...
The following states do not tax retirement distributions. Illinois The state has a flat state income tax of 4.95% and exempts from taxation nearly all retirement income, including Social Security ...
States with no income tax. Retirement distributions from 401(k) plans or IRAs are considered income for tax purposes. Fortunately, there are several places with no state income tax: Alaska ...
Roll the inherited 401(k) directly into your own 401(k) or IRA: This choice gives the inherited money more time to grow. Regular 401(k) rules apply for withdrawals prior to retirement age, meaning ...
To be clear, in all these nine states, retirement income is defined as distributions from 401(k) accounts and IRAs, as well as pension income. Of course, if you choose to continue earning work ...