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[quote=Anonymous][quote=Anonymous][quote=Anonymous][b]MoCo tax wise if over 65 and taking 401ks they exempt a portion of it from taxes.[/b] They also have homestead exemption. You  have way less income in retirement so less Moco taxes and MoCo does not tax SS income in retirement.

However, if you have huge 401ks RMDs that  makes a difference [/quote]
? where does it say that? Source?[/quote]

Source is maryland tax laws.

If you are 65 or older or totally disabled (or your spouse is totally disabled), you may qualify for Maryland's maximum pension exclusion of $36,200* under the conditions described in Instruction 13 of the Maryland resident tax booklet. If you're eligible, you may be able to subtract some of your taxable pension and retirement annuity income from your federal adjusted gross income.

*For calendar year 2023. For calendar year 2024, the maximum pension exclusion is $39,500.

You were 65 or older or totally disabled, or your spouse was totally disabled, on the last day of the tax year; and
You included on your federal return income received as a pension, annuity or endowment from an "employee retirement system." These include qualified defined benefit and defined contribution pension plans, 401(a) plans, 401(k) plans, 403(b) plans, and 457(b) plans.

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