I worked in NY for about 10 years for a NY State agency (non resident in NY), living and filing as resident in NJ.
I contributed to NYSLRS Pension System, Tier 6, for about little more than 10 years, which I understand is a Defined Benefits/Contribution Plan - 401(a). There were no employer contributions.
Retired mid 2023, and started receiving Pension payments for the rest of 2023.
My contributions were tax deferred for Federal but taxable in NY, and also taxable in NJ.
I received my first 1099R from NYSLRS for 2023, but when I enter it in TurboTax it asks me for "method of distribution - 3 year rule or General". I think this is for NJ, because I know the amount received is all taxable for Federal, but a portion (or all) may be taxable in NJ.
Entered the "General Rule". Then Turbo Tax asks me for my Total Contributions and the Expected return.
I can get my total contributions from all my W2s, but I called NYSLRS to get the expected return amount, and they were surprised of the question. They do not know what that is, and they never provided such information to pension recipients, as the plan, as they said, is a Defined Benefits 401(a) plan.
How do people who live and file "Resident" taxes in NJ, but receive pension from NY (NYSLRS) enter the 1099R information in turbo tax. This must be a common issue.
I am using TurboTax Desktop Premier for 2023 (Windows 11).
Thanks
