Capital Gains and Losses
Capital Gains Tax Questions? Ask a Tax Advisor for Answers ASAP
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With deferred compensation you mean a retirement account, correct? What state do you live in? Also are you 59 1/2 or older?
Pension distributions and other deferred compensation is subject to OH tax, but you will not have to pay local/city or school district taxes on that income as far as 2015 tax year. If you haven't take the distribution yet, the income will be reported on your 2016 tax return next year. There are no tax tables available available for 2016, but based on you 2015 tax tables, assuming this is your only income, you will owe about $230.
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