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Nontaxable Potion of the Pension Distribution in the State of Hawaii
I took out money from my employer 401K plan (employer and employee both contribute to the plan) from Covaid-19. Federal tax allow me to split the amount in 3 years to pay the taxes. Now comes to the State of Hawaii, On the page it said "Enter the nontaxable potion of the pension distribution I received, and there is a box to type in the "exclusion amount". I need to know do I have to pay Hawaii tax on the full amount on the distribution under Hawaii for taking out money on the 401K plan on Covaid-19 or it can be like the federal, can split into 3 years to pay the taxes? How do I figure out the amount to put in the box "exclusion amount"?
‎February 28, 2021
3:18 PM