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2015stateform
New Member

Is my traditional IRA taxed by PA, had to take RMD ,1st time?

 
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ChelsiE2
New Member

Is my traditional IRA taxed by PA, had to take RMD ,1st time?

No.  

Here's what Pennsylvania says about IRA Distributions: 

  • "Distributions from an IRA, including a federal Roth IRA, are taxable to the extent the distribution exceeds your previously taxed contributions. Distributions you receive after retiring but before age 59½ are taxable even if you receive substantially equal payments, and you do not pay the federal penalty for an early withdrawal. Distributions you receive after age 59½ are not taxable even if not retired." (From: Pennsylvania Department of Revenue)

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1 Reply
ChelsiE2
New Member

Is my traditional IRA taxed by PA, had to take RMD ,1st time?

No.  

Here's what Pennsylvania says about IRA Distributions: 

  • "Distributions from an IRA, including a federal Roth IRA, are taxable to the extent the distribution exceeds your previously taxed contributions. Distributions you receive after retiring but before age 59½ are taxable even if you receive substantially equal payments, and you do not pay the federal penalty for an early withdrawal. Distributions you receive after age 59½ are not taxable even if not retired." (From: Pennsylvania Department of Revenue)
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