Cristy n taxes
Level 1
04-15-2020
05:06 PM
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If a client rolls over KPERS retirement into a traditional IRA, are the earnings tax free on the Kansas return just like Kpers or are the earnings after the direct rollover taxable?
qbteachmt
Level 15
04-15-2020
05:59 PM
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Earnings in a Traditional IRA are taxable. All distributions from a Traditional IRA are computed for taxability against Basis, and earnings are never part of Basis. They are New Value.
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"Level Up" is a gaming function, not a real life function.
"Level Up" is a gaming function, not a real life function.
IRonMaN
Level 15
04-15-2020
08:07 PM
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If the client already did it, they just shot themself in the foot. If they haven’t done it yet, take their bullets away before they get hurt.
Slava Ukraini!
