I lost my job in 2016 and I received my 401K all of it. I'm 61 years old for the Ohio can I claim the lump sum credit?

[Hal_Al · Accepted solution]

No. Leaving your employment and cashing out your 401k does not qualify.

 There are two separate OHIO lump sum credits. One, the "Lump Sum Distribution Credit is only for people over 64 and you must have taken out everything in the company plan  and you must have left the company.

 The other, the Lump Sum Retirement Credit, is for any age but you must have actually retired from your company, and taken your entire account as a lump sum.

 See page 27 at http://www.tax.ohio.gov/portals/0/forms/ohio_individual/individual/2016/PIT_IT1040_Booklet.pdf

 Or for the detailed nitty gritty:

http://www.tax.ohio.gov/portals/0/forms/ohio_individual/generic/PIT_LumpSum_FI.pdf

[jrkatbart]

Thank you