Do I have a basis for an early withdrawal of retirement funds for PA State taxes (living in PA now) if the original contributions were made in GA (pre-tax)?

Forum|Forum|1 year ago
January 24, 2025
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I had a 401K with my old employer in GA, then rolled it over to an IRA when I changed jobs years ago. Now we live in PA and in 2024 I took a distribution from the IRA and closed it, before I am 59.5. No State taxes for PA were withheld at the time of distribution, only Federal. TurboTax is asking for my Basis for the PA State Taxes.

BillM223

TurboTax is asking if there were any after-tax contributions to the 401(k) - now IRA. We don't know the answer, but the answer is likely no because this is not common.

If there were no after-tax contributions to the 401(k)/IRA, your basis in the IRA is zero for both the federal return and Pennsylvania.

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