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Is this free, I worked and lived in Florida and I retired
I worked and lived in Florida and I retired from the US Postal service in may and applied for my thrift savings withdrawal there. I moved July 28 to PA (where I never worked). My thrift savings was deposited in my bank in August. I am 58 and since I worked and retired in FL and did apply for that thrift savings withdrawal there. Do I have to pay PA state tax on it. … read more
LEV
LEV
Retired
Bachelor's Degree
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I am 63 still working want to take cash withdraw l from my
I am 63 still working want to take cash withdraw l from my retirement do I have to pay federal and Pa state tax… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
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I have a employer 403b. Plan to take a new job in November.
I have a employer 403b. Plan to take a new job in November. Want to take some or all of this as a distribution in January 2018. This is the calendar year I turn 55. BD 7/19/63. I want to know if the 1… read more
Robin D.
Robin D.
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Vocational, Technical or Trade School
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I'm about to purchase my first home, and I want to withdraw
Hello, I'm about to purchase my first home, and I want to withdraw from my traditional IRA (just rolled over a former employer 401k last month) to help with the down payment. I understand i need to pa… read more
LEV
LEV
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I received a lump sum retirement payment in the amount of
I received a lump sum retirement payment in the amount of $58,622.54. The automatically withheld 20% of that to the tune of $11,724.51. The check I received was for $47,208.39. From what I understand,… read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
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A PA couple who are under age 59.5 withdraw funds from their
A PA couple who are under age 59.5 withdraw funds from their 403(b)'s to purchase a home (which is not their first home). I am aware that the withdraws are taxable for Federal purposes & they are subj… read more
CFEPro789
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i live in the state of Pennsylvania but I worked in New Jersey
i live in the state of Pennsylvania but I worked in New Jersey and I just retired from that job in April of 2014... Is my pension subject to PA state tax ??… read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
I inherited my deceased sisters 401k.....gross . was
I inherited my deceased sisters 401k.....gross amt. was 40,000 altho they kept 8,000 for the irs. my question is do I owe state income tax also, my state is pa. and if so, do I claim the 40,000 or the… read more
NPVAdvisor
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Both my wife and I served on active duty in the Navy and now
Both my wife and I served on active duty in the Navy and now draw pensions. We are also both currently federal employees with the Navy and plan to retire next year. We also have Thrift Savings Plan (T… read more
jgordosea
jgordosea
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I recently retired, 5/1/11, living in Alaska and plan to move
I recently retired, 5/1/11, living in Alaska and plan to move to Pennsylvania in 2012, but want to keep my bank account in Alaska where my pension checks are deposited and use the ATM in Pennsylvania … read more
Bill
Bill
Master's Degree
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I am 48 years old. I have a state employees retirement annuity
I am 48 years old. I have a state employees retirement annuity with a withdrawal option of $15,209.00. I work for the federal government now and need money. If I withdrawal the $15,209 I will receive … read more
Bill
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I am receiving disability retirement as income and want to
I am receiving disability retirement as income and want to withdraw an annuity (from a different union I used to belong to) I borrowed twice from it. The first time I paid it back partially and then s… read more
Wendy Reed
Wendy Reed
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I am 68 years of age, my wife and I have a retirement income
I am 68 years of age, my wife and I have a retirement income of SS$3600 per month and her retirement of $1900 per month. I still work and have an income in excess of $100,000 per year. I am thinking a… read more
Bizhelp
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I am 56 1/2 years of age and retired from Verizon in PA at
I am 56 1/2 years of age and retired from Verizon in PA at the age of 49 1/2 with 31 years of service. I more than met the requirement set by my employer of age and service adding up to 75 to be pensi… read more
Bill
Bill
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I am looking to cash out about $3000 of my 401k plan from a
I am looking to cash out about $3000 of my 401k plan from a previous employer. The plan states that they would immediately take out 20% for federal income tax. In addition to this, they state that if … read more
Marvin,EA
Marvin,EA
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Bachelor's Degree
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I want to retire this year. I am a widow and would like to ...
I want to retire this year. I am a widow and would like to use my spouses retirement to paydown some bills. I can take this out in cash and they will tax me 10%. Since I am in the middle tax bracket a… read more
Bill
Bill
Master's Degree
2,278 satisfied customers
I asked before if my ira withdrawals were subject to Pa ...
I asked before if my ira withdrawals were subject to Pa income tax. I got an answer that said distributions from an ira are not taxabe if the payments are: received, including lump sum distributions, … read more
RD
RD
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Master's Degree
1,164 satisfied customers
I am 63 years of age and am wanting to withdraw my 401K ...
I am 63 years of age and am wanting to withdraw my 401K as a personal distribution. What I need to know is what is the penalty and if both federal and state take taxes out at his time and how much.… read more
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Wendy Reed
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