Rollover 401K to traditional IRA in NJ, No need to pay federal tax, but need to pay state tax, is that right?
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Rollover 401K to traditional IRA in NJ, No need to pay federal tax, but need to pay state tax, is that right?

If I need to pay state tax, later when I withdraw the money due to MRD, how does NJ state knows it has been paid?

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Level 15

Rollover 401K to traditional IRA in NJ, No need to pay federal tax, but need to pay state tax, is that right?

There is no current NJ tax on this rollover.

When you take the RMD, the 1099-R will show any taxes you had withheld. 

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