Investors & landlords

Interesting that TTX helps with the calcualtion.....thought int might be too obscure.

 

They did not appear to include other pension account types, like a 401k.  Subtraction code 315 specifically prohibits pension distributions from taking this subtraction,,,but does not break down into traditional/401k/457/403b...etc

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For CA, I went thru their 2021 Pub 1005:

 

That pub doesn't' split out any pension/retirement type...just says:

 

"Pensions invested in U.S. Government Securities. If your pension plan invested in U.S. Government securities or in mutual funds that invested in U.S. Government securities, you may not reduce the taxable portion of your pension distribution by the amount of interest attributable to the U.S. Government securities."

 

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*