Question

Which of the following is the primary consideration that determines if a taxpayer's retirement income will...

Which of the following is the primary consideration that determines if a taxpayer's retirement income will be taxed by the state?

Whether the federal pension exclusion can be claimed.

The taxpayer's state of residency.

Whether the taxpayer has costs to recover from their pension or annuity plan.

The filing requirements of the taxpayer's state of residency.

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Answer #1

The taxpayer state of residency associated with the filing requirement of the taxpayer is very important in deciding whether his retirement income would be taxed or not because several States do tax the retirement income and several state doesnot tax the retirement income.

all other factors about Federal pension exclusions or state of residency or cost to recover or any plans are not relevant in deciding about taxation of retirement fund.

Correct answer is option ( d) filing requirement of taxpayer state of residency

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