Re: KPERS

Cristy n taxes · ‎04-15-2020

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 · ‎04-15-2020

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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IRonMaN · ‎04-15-2020

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!

KPERS

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