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Fri 30 Mar, 2012 10:00 pm
I'm trying to find out if Oregon taxes qualified distributions from Roth IRA's as income? I've been looking but can't find anything one way or the other. I know the FED does not and I've been told that "most" states do not. But I'm just wondering if Oregon is one of the few exceptions.
@cmabc123,
No, Oregon does not tax distributions from Roth IRA's as income, provided you are 59.5 years old when you start withdrawing from it.
https://www.oregoncommunitycu.org/accounts/iras
Quote:Roth IRA – A Roth IRA has the same contribution limits as Traditional IRAs, but there’s a big difference. Contributions to a Roth IRA aren’t tax-deductible. So why do it? Because qualified withdrawals are tax-free. This includes earnings. You can withdraw your contributions tax and penalty free anytime. This means if you find yourself in a financial pinch, you can withdraw what you’ve put in (not what you’ve earned) without penalty. Want one more reason for a Roth IRA? You don’t have to be under age 70½ to contribute. If you still have money to put away at that age, you can as long as you’re still working.
@roger,
All his last 30 posts say "Troll" - he clearly was referring to himself, poor chap!
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