Retirement tax questions

@mrsmoaks 

 

NO...(and maybe)

 

1099-R income is only taxable in the state you are a resident of, at the time you receive those $$.

 

AS long as you lived in AZ all of 2022, then those $$ are only y taxable by AZ....not NM

______

The Maybe part?

1) IF you were a full-year resident of AZ all of 2022, but for some reason some NM taxes were withheld, then you would need to file a NM non-resident tax return...indicating ZERO NM income to get all the withholding back.....and then make sure the Admin of that account knows you are now a resident of AZ, and get the NM withholding stopped (and AZ withholding started...if possible).

OR

2) If you moved yoru residence from NM to AZ during 2022, you would need to file part-year AZ and NM tax returns...allocating what $$ you received during the time you were still in NM, and what $$ you received after becoming an AZ resident.

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