To get the Mississippi pension deduction, you will first have to enter the necessary information in your Federal Income tax return and then in the Mississippi income tax return.
Here are the steps to enter your exempt Mississippi employee pension:
On the Federal Income Tax portion:
- In the search or find box, type in 1099-R
- Click on Jump to 1099-R
- Scroll down to Retirement Plans and Social Security
- At IRA,401(k), Pension Plan Withdrawals (1099-R), click Start (or Update)
- Enter your 1099-R or if you have entered it, click on Edit then Continue
- Answer the next questions until you get to the Where Is This Distribution From? screen
- Select the source Mississippi Employees and enter the information requested:
- Click on Continue
- Click on From a Qualified Plan
- Continue answering the questions
On the Mississippi return portion:
- At the Changes to Federal Income page, scroll down to Received retirement income, click Start (or Update)
- At the Retirement Distributions Summary page, click on Edit Mississippi
- If no additional information is required, click on Continue
- Click on Done
Review the Pension Deduction Summary for the deduction.
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