turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Ask the Experts All About the Refund! >> Event happening NOW!!!!
Close icon
Do you have a TurboTax Online account?

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

gfish103
New Member

Delaware pension exclusion for Roth Conversion

Does an amount converted from a traditional IRA to a Roth IRA count toward the $12,500 pension exclusion for DE income tax?  (Over 65 y.o., so no problem with early withdrawal penalty or eligibility for the $12.5K exclusion).

 

Of course, it's taxable for Federal 1040 and for DE state above the $12.5K, but TT seems to think it doesn't count for the exclusion.

Connect with an expert
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
DaveF1006
Expert Alumni

Delaware pension exclusion for Roth Conversion

No. this pension is not excluded in Delaware because you did not take a distribution. You merely converted the Traditional IRA amount and placed in a Roth account to be distributed later in your retirement. This is a great tax strategy however in case if income tax amounts are higher in later years.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies