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Old 04-17-2024, 10:56 AM
mtdjed mtdjed is offline
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Quote:
Originally Posted by LuvtheVillages View Post
First, your math is off. June 15 is only 166 days into the year.



Another response about moving money was partially correct. If he is entitled to any lump sum distributions, arrange to receive them after establishing residency in FL and updating your address with the payer. If received while a resident of the old state, then the old state taxes it. But it doesn't matter where the bank account is located. If you receive pension payments while in both states, you should receive 2 form 1099R's - one for each state.

It is important that anyone who pays you money - including your investment accounts, have your FL address on file. Even if it's a temporary rental address.
My point also says change the address that pension, lump sum, and investment brokers have and stop tax deductions to the old state on those payments. Once they have your money , it will be much harder to get it back.