Does NY State income tax exclusion on up to $20000/yr private pensions apply to rollover IRA withdrawals?

1 ⤊

The rollover IRA came from a lump sum private pension.

2007-08-01 04:48:12 · 3 answers · asked by boobalajeff 1 in Business & Finance ➔ Taxes ➔ United States

Yes it does.

2007-08-01 06:12:00 · answer #1 · answered by smh60437 3 · 0⤊ 2⤋

I would say because you rolled the pension lump sum into an IRA, that you lost the $20,000 per year exemption.

2007-08-01 12:09:29 · answer #2 · answered by Anonymous · 1⤊ 0⤋

A properly executed rollover is never taxed, regardless of the amount.

2007-08-01 12:15:45 · answer #3 · answered by Bostonian In MO 7 · 0⤊ 3⤋