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

long_family · ‎July 28, 2021

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??

RossP88 · ‎July 28, 2021

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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View solution in original post

RossP88 · ‎July 28, 2021

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 · ‎July 28, 2021

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

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