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Question

retirement funds withdrawal

Forum|Forum|2 years ago
October 25, 2023
1 reply
20 views

My husband and I each withdrew funds from our retirement funds during 2023.

What are the tax consequences if we file as a resident of Vermont?

What are the tax consequences if we file as a resident of Pennsylvania?

Ask the Experts - Extension - Sept 2023

Employee Tax Expert

Employee Tax Expert

Vermont does tax retirement income, but Pennsylvania does not.

Depending on your adjusted gross income and the type of retirement income you have the tax rate may vary for Vermont.

Here is a link to the state's breakdown of how they tax the retirement income:

https://tax.vermont.gov/individuals/seniors-and-retirees

Hope this helps!

Cindy

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