Exempt 401(k) money from income taxes, too
Be aware of IRS regulations when inheriting an IRA or 401(k). Credit: Getty Images/iStockphoto / courtneyk
Exempt 401(k) money from income taxes
I read the June 21 letter “Let all pensions be free of NY State tax.” While I agree wholeheartedly that all pensions, federal, state or private, should be treated the same for tax purposes, that treatment also must include withdrawals from retirees’ 401(k) accounts. Many users of those accounts were not lucky enough to work for an employer offering a pension.
Nelson Hunter, Greenlawn
