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    amy_howell's Avatar
    amy_howell Posts: 4, Reputation: 1
    New Member
    		  
    #1

    Feb 21, 2012, 11:15 PM
    Tax questions
    Hi all,
    Hey, I was wondering,I retired last year from general motors at age 54. They were relocating from Delaware to Illinois. I decided to take the buy out. So, in January of 2011, I started getting about 2700.00 monthly for my retirement package, totaling about 34k. I know I have to pay the federal taxes on this, but it is a code 2 in box 7, which says I do not have to pay a penalty. But... and here is my question... is this income taxable income in the state of Pennsylvania, or,. it is only about a 1k swing, but a penny saved... thank you for your time. Amy
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Feb 23, 2012, 02:42 PM
    If you live on Pennsylvania, then, yes, it is taxable by PA.
    amy_howell's Avatar
    amy_howell Posts: 4, Reputation: 1
    New Member
    		  
    #3

    Feb 23, 2012, 03:54 PM
    Thank you once again. Your help is much appreciated... until we need again. Thank you, smy
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #4

    Feb 24, 2012, 09:12 AM
    Glad to help!
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