Ask The Expert: Taxes

Q: I withdrew an IRA in 2012. I live in VA and I don't work. My IRA address is in Athol Ma. Do I pay state taxes in MA or VA?
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A:

So long as your residence is in Virginia, you most likely just need to pay state taxes in Virginia.

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Important IRA Information

Each year, the IRS updates the rules for Traditional IRAs. Here are all the details for 2015: