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long_family
Level 1

I am moving from TX to CO, need to withdraw from IRA to buy a house in CO

Is this a correct assumption?

"I would like to withdraw IRA while I am in TX in order to avoid additional State income Tax in CO. "

 

if so, how can I do it properly to avoid the unnecessary income Tax in CO??

 

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Accepted Solutions
RossP88
Employee Tax Expert

I am moving from TX to CO, need to withdraw from IRA to buy a house in CO

Hi! You will want to take the draw prior to making the move and while you are still a TX resident. Since TX does not have an income tax you will avoid state tax entirely. 

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2 Replies
RossP88
Employee Tax Expert

I am moving from TX to CO, need to withdraw from IRA to buy a house in CO

Hi! You will want to take the draw prior to making the move and while you are still a TX resident. Since TX does not have an income tax you will avoid state tax entirely. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
long_family
Level 1

I am moving from TX to CO, need to withdraw from IRA to buy a house in CO

How do I proof my TX residency?  is it by using a Texas address?  

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