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Level 1
posted Oct 30, 2024 9:32:22 AM

Roth IRA conversion (move from CA to NV this year)

I moved from California to Nevada this May. I want to do a Roth IRA conversion because I have mush less income this year. Do I also need to pay CA state tax if I do the Roth IRA conversion this year? I still have a rental property in California so I still need to pay CA state tax, right? Not sure if I should wait until next year to do the Roth IRA conversion since I don't need to pay CA state tax for that. I am not selling the rental property soon.

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1 Replies
Employee Tax Expert
Oct 30, 2024 9:59:37 AM

Hello hozung! You are correct that you will need to file a CA return due to your rental. However, the state where you reside on the date of the conversion is responsible for taxing the income earned from the conversion. So if you are already living in NV, there is no obligation to CA for a Roth conversion at this point. Hope that helps!