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Is a 401K distribution taxable in PA if over 59 1/2 but not yet retired?
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June 3, 2019
4:48 PM
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Retirement tax questions
No, you are not required to pay tax on a retirement distribution if you were over the age of 591/2 when you withdrew the money.
Please view the Pennsylvania link below for more information.
June 3, 2019
4:48 PM
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Retirement tax questions
I don't believe this is correct. It appears you must be retired or the distribution is taxed. I would love to be wrong.....please let me know if I am.
From https://revenue-pa.custhelp.com/app/answers/detail/a_id/1470/related/1
Code 7 Normal Distribution. This distribution from an eligible Pennsylvania retirement plan is not taxable if you met the plan requirements (the age and/or years of service required by the plan) for retirement, and retired after meeting those requirements.
October 21, 2021
12:08 PM