Yes. The residency of the owners of the property will be determined separately. Withholding is required only on the purchase price or gain recognized by the nonresident sellers. In the case of co-owners who are married, ownership is determined separately if one owner is a nonresident. Separate forms must be completed for each nonresident seller/transferor who will be required to file an Alabama income tax return.
Yes, once the withdrawal is made, it would be taxable on your Alabama income tax return.
The rollover is exempt from Alabama income tax.
Yes, the amount withdrawn is added back to the contributing taxpayer’s return, plus a 10 percent penalty.
No, the money is not taxable as long as the money is used to pay for higher education expenses.
The postmark date on your contribution will be accepted as the date of the contribution, as long as it is on or before December 31.  The contribution does not have to be received by the plan on or before December 31.
