Roth conversion in year moved out of NYC? How taxed?

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GreenGrowTheDollars
Posts: 418
Joined: Fri Dec 18, 2015 11:09 pm

Roth conversion in year moved out of NYC? How taxed?

Post by GreenGrowTheDollars » Fri Nov 08, 2019 10:16 am

How are state taxes on Roth conversions taxed for an individual who moved from NYC to Colorado mid-way through 2019? (Move was in May; the conversion would be in December.)

CRTR
Posts: 259
Joined: Sat Apr 11, 2015 1:15 pm

Re: Roth conversion in year moved out of NYC? How taxed?

Post by CRTR » Fri Nov 08, 2019 12:40 pm

hope this gets answered. I will have a similar question next year (moving from CA to ID)!

BTW, I know that if you're moving TO NY, the date of the conversion matters. If it performed while a NY resident, you have to pay NY taxes.

MarkNYC
Posts: 1564
Joined: Mon May 05, 2008 7:58 pm

Re: Roth conversion in year moved out of NYC? How taxed?

Post by MarkNYC » Fri Nov 08, 2019 12:47 pm

Income from a Roth conversion is taxable to your resident state at the time of the conversion.

mcraepat9
Posts: 1317
Joined: Thu Jul 16, 2015 11:46 am

Re: Roth conversion in year moved out of NYC? How taxed?

Post by mcraepat9 » Fri Nov 08, 2019 3:41 pm

Be prepared to receive a letter from NYSDTF, but it should not matter. Your dissociation with NYS should be complete - no leftover driver licenses, voter registrations etc in NYS. Retain documentary evidence of your new domicile and your cessation PF your NYS domicile.
Amateur investors are not cool-headed logicians.

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