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View Full Version : Does NYS tax on IRA early withdrawal? If so, where is it on Form 201?


taxingtaxes
Apr 14, 2009, 10:07 AM
I am filing form 201 for NYS and I can't find anywhere on that form where to specify that I did an early withdrawal from my IRA. I took out $5500 from my IRA, paid the 10% penalty on my federal. On line 9 of form 201 I reported the $5500, but since that is all my income, and it is less than the standard deduction of $7500, my tax is 0. Do I have to pay a penalty to NYC as well? If so, where on form 201 do I do that?


THANKS EVER SO MUCH!!

ebaines
Apr 14, 2009, 11:54 AM
Do I have to pay a penalty to NYC as well? If so, where on form 201 do I do that?

No - there is no "early withdrawal" penalty imposed by NY State or City.