NancyT
Level 2
03-27-2022
02:22 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Taxpayer was a MD resident when he took an IRA distribution in 2020. He elected to take the Covid exception and spread the income over 3 years. He paid federal and MD tax on 1/3 of the distribution in 2020.
He is a full year resident of VA for 2021. The ProSeries program carries the income for year 2 of the distribution to VA return. Should client be taxed on income actually received when he was a non-resident?
Should he file a non-resident Maryland return and pay tax on the second installment of the distribution and exclude it from VA?
Thanks for any help!
Labels