Inherited IRA

Forum|Forum|4 years ago
March 8, 2022
2 replies
9 views

My mother passed in 2021 and I inherited three IRAs. Two were IRA/SEP/Simple. I took lump sum distributions. My Ohio State Turbo Tax seems to be treating them as straight income and I can't figure out if I'm filing correctly.

FangxiaL

Level 10

I am very sorry for your loss.

Most likely you are filing correctly if it shows that the income is fully taxable on your OH state return.

Generally, retirement income included in federal adjusted gross income is subject to Ohio income tax. If your distribution is fully taxable on your federal return, it is also fully taxable on your OH state return. Unfortunately, there is no exclusion of retirement income with the following exceptions:

Social Security and tier I railroad retirement benefits, to the extent included in federal adjusted income;
Certain additional railroad retirement benefits that are exempt from state taxation under federal law; AND
"Retired personnel pay" related to a retired military servicemember's service in the uniformed services, the reserve components thereof, or the national guard.

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