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QUESTION DETAIL
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Why am I being taxed by South Carolina for money I withdrew from my 401k? I'm older than 59 1/2 and the company I work for is located in North Carolina. I told them to withhold taxes in North Carolina. Now, South Carolina wants me to pay them $3,000.
ANSWER
The BIDaWIZ Team's Answer:
You are subject to South Carolina state taxes since that is where you are a resident and the state doesn't have a reciprocity program with North Carolina. However, you can claim a tax credit for the taxes paid on the same income to North Carolina via form Form SC 1040-TC.
