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coolfusion61
March 16, 2021
Question

Multistates

  • March 16, 2021
  • 1 reply
  • 0 views

I lived in Idaho 5mo15days and in Oregon the balance of 2020 . How do I do IRA capital gains and a pension from the military for each state?

1 reply

T
ToddL99
March 16, 2021

Allocate your income according to where you lived when you received it.

 

For your military pension, you lived in ID for 165 days, so the percentage of pension income allocable to ID is (165 /365) = 45% (OR would be 55%).

 

Capital gains inside an IRA are not taxable until you take a distribution. In the case of IRA distributions, they are taxable to the state you lived in when you got the distribution.

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