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Level 1

Question

401(k) withdrawal

Forum|Forum|1 year ago
March 25, 2025
1 reply
11 views

Are 401(k) withdrawals eligible for the $20,000 annual New York state exclusion

Level 15

Yes, 401ks are eligible for the New York state exclusion.

If your pension is taxable to New York and you are over the age of 59 ½ or turn 59 ½ during the tax year, you may qualify for a pension and annuity exclusion of up to $20,000. This exclusion from New York State taxable income applies to pension and annuity income included in your federal adjusted gross income.

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