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1RJC
New Member

I rolled over Hawaii County retirement funds into Trad'l IRA account. Are my federally txd distributions taxable on Hawaii N-11?

 
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DavidD66
Expert Alumni

I rolled over Hawaii County retirement funds into Trad'l IRA account. Are my federally txd distributions taxable on Hawaii N-11?

Retirement distributions from a private or public pension plan are tax-free in Hawaii, as long as you didn't make contributions to the plan such as 401(k)s and IRAs: Distributions from 401(k) plans and IRAs are generally treated the same for Hawaii tax purposes as they are for federal tax purposes. Hawaii treats a rollover IRA as treated as a continuation of the original plan that provided the money that is rolled over. If your original retirement plan would be characterized as a qualified distribution, distributions out of the rollover IRA need not be reported as well.  

 

So, if you contributed to the county retirement plan, it is taxable.  If you did not contribute, it is not taxable.  

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