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Retirement tax questions
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.*
‎January 17, 2023
4:37 PM
906 Views