Retirement tax questions

@Steve198 

 

But ya kind-of have to be careful when preparing and filing as a MO part-year resident.

 

MO is one of a couple states that has part-year residents prepare and file their Part-Year taxes either:

 

1) As-if you are a full year nonresident...declaring only the income earned or received during the MO time as a resident as being MO income.

or

2) As-if you are a full year resident, including all income (even the 401k distribution) as income, and taking a credit for the taxes paid to the other state while living there (but TX has no income tax)

 

You need to make sure you use procedure #1.

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*