turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

I took a distribution from my IRA Rollover (previously funded from a Pension by prior employer). What is my Basis of Retirement Income for this distribution in PA state?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
SabrinaD2
Employee Tax Expert

I took a distribution from my IRA Rollover (previously funded from a Pension by prior employer). What is my Basis of Retirement Income for this distribution in PA state?

In Pennsylvania, IRA rollover distributions aren't taxable if taken after age 59½. If taken before, they are taxable unless part of a periodic retirement plan

 

Your basis is the portion of after-tax contributions from your prior employer's plan. If all contributions were pre-tax, your basis is zero, meaning the full amount is taxable

 

Check your Form 1099-R boxes 5–13 for distribution details 

 

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question