Thrift Savings - Alabama Income Tax

Taxes General Forum - Tax professionals meeting place and answers to queries. (Moderated) 

Yahoo!   Google   Windows Live   del.icio.us   digg   Netscape

Subject Author Date Thrift Savings - Alabama Income Tax Paultry 02-12-2008  Re: Thrift Savings - Alabama Income Tax Harlan Lunsford 02-12-2008
Posted by Paultry on February 12, 2008, 7:40 pm Please log in for more thread options An easy one for Harlan: Form 40 instructions show "U.S. Government Retirement Fund Benefits" to be non-taxable. Do post-age 55 retirement distributions from the Federal Thrift Savings Plan qualify as non-taxable in Alabama under this or any other exclusion? -- << ------------------------------------------------------- >> << The foregoing was not intended or written to be used, >> << nor can it used, for the purpose of avoiding penalties >> << that may be imposed upon the taxpayer. >> << >> << The Charter and the Guidelines for submitting posts >> << to this newsgroup as well as our anti-spamming policy >> << are at www.asktax.org. >> << Copyright (2007) - All rights reserved. >> << ------------------------------------------------------- >> Posted by Harlan Lunsford on February 12, 2008, 10:06 pm Please log in for more thread options Paultry wrote: > An easy one for Harlan: > > Form 40 instructions show "U.S. Government Retirement Fund Benefits" to > be non-taxable. Do post-age 55 retirement distributions from the > Federal Thrift Savings Plan qualify as non-taxable in Alabama under this > or any other exclusion? > Nope. TSP contributions are pre tax, similar to 401k and IRA, etc, so withdrawals for a resident are taxable. Remember, the TSP is not a US government retirement fund per se, but elective deferrals. ChEAr$, Harlan -- << ------------------------------------------------------- >> << The foregoing was not intended or written to be used, >> << nor can it used, for the purpose of avoiding penalties >> << that may be imposed upon the taxpayer. >> << >> << The Charter and the Guidelines for submitting posts >> << to this newsgroup as well as our anti-spamming policy >> << are at www.asktax.org. >> << Copyright (2007) - All rights reserved. >> << ------------------------------------------------------- >> Similar Threads Posted Alabama non-Resident and IRA distribution April 13, 2009, 11:05 am Savings Bonds December 12, 2006, 2:34 am Talking to my son about savings June 6, 2007, 4:39 pm Health Savings Account February 25, 2007, 5:00 am Tax savings with purchasing a house June 20, 2008, 3:57 am SC 529 Plan - PassThru for tax savings? August 10, 2009, 3:05 pm question about Savings Bonds September 15, 2009, 9:12 pm Grandchildren's savings accounts October 3, 2009, 6:03 pm Health Savings Account contributions September 8, 2007, 12:26 am Savings Bond (EE & I) as taxable Interest? March 19, 2008, 9:48 pm