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emuvenus
New Member

My 1099-R is state tax exempt and is reflected in Box 14 as "Exempt." How do I enter this in Turbo Tax? I'm only allowed to enter numbers.

This is for New York state.
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1 Reply
DianeW777
Expert Alumni

My 1099-R is state tax exempt and is reflected in Box 14 as "Exempt." How do I enter this in Turbo Tax? I'm only allowed to enter numbers.

It depends.  There is no need to enter the word exempt in Box 14, however for the state section of the 1099-R do not enter any information.  When you get to the New York (NY) state return, watch for the area where you can remove the exempt pension.

Q: What determines if an individual’s pension or annuity qualifies for the $20,000 pension and annuity  exclusion on the NYS personal income tax return? 

A: The individual receiving the pension must be 59½ years of age or over. In addition, the pension and  annuity income must be:  

 • included in federal adjusted gross income (FAGI);   

• received in periodic payments (except IRA or Keogh);   

• attributable to personal services performed by the individual before their retirement; and   

• from an employer-employee relationship or from an employee’s tax deductible contributions to a retirement plan.

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