turbotax error

Forum|Forum|5 years ago
May 6, 2021
1 reply
5 views

On my 2020 federal return, I reported a taxable pension of $4,976. On my CT state return, Turbotax neglected to subtract 28% of this pension amount from my federal AGI (CT form 1040, schedule 1,line 48b.) Why not ?

SweetieJean

Alumni - Champ

Do you meet the requirments listed here:

Line 48b: 28% of Pension or Annuity Income
If your filing status is single, married filing separately, or head
of household with federal AGI for the taxable year of less than
$75,000 or married filing jointly with federal AGI of less than
$100,000, and you receive income from certain pensions and
annuities, such as from a defined benefit plan, 401(k), 403(b) or
457(b) plans, you qualify for this subtraction modification.

The following amounts are not included in Line 5b of the federal
income tax return and should not be added when calculating the
pension and annuity amount for Line 48b of Form CT-1040:
• Disability pensions received before the recipient met
the minimum retirement age set by his or her employer;
• Corrective distributions of excess elective deferrals
or other excess contributions to retirement plans; and
• Distributions from traditional IRAs, Roth IRAs,
simplified employee pension (SEP) IRAs, and savings
incentive match plans for employees (SIMPLE) IRAs.

bob k2Author

Level 2

SweetieJean answered my question perfectly and I responded to her with my thanks. I also owe Turbotax an apology for thinking it was their error. It was mine for not checking the state instructions before I asked the question.

bob k2