Hi. Q for you NYS Residents..
I have an Inherited IRA from Mom that I am allowed a $5K NYS Tax exclusion per year.
After I retire, I will have my own Trad IRA that I am allowed $20K per year.
Q: Do the above 2 add up so that I can take $25K per year NYS Tax Free (20 from mine and 5 from my Mom's), or, am I only allowed a total of $20K no matter what the source?
Thank you!
Max
I have an Inherited IRA from Mom that I am allowed a $5K NYS Tax exclusion per year.
After I retire, I will have my own Trad IRA that I am allowed $20K per year.
Q: Do the above 2 add up so that I can take $25K per year NYS Tax Free (20 from mine and 5 from my Mom's), or, am I only allowed a total of $20K no matter what the source?
Thank you!
Max
Statistics: Posted by max12377 — Sun Dec 22, 2024 5:35 am — Replies 3 — Views 187