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Retirement tax questions
First, to get the exclusion to work correctly, select US Government (Including Military ) instead of New York State and Local Retirement System (NYSLRS). Other posters have had the same issue and this option worked for them.
Alternatively, see @DaveF1006 post immediately above:
If your income has not be excluded in your return, try these steps.
- Log into Turbo Tax
- Select the State Taxes tab on the left side of your screen.
- As you navigate through the screens, you will see a screen that says changes to federal income.
- Look under the heading Wage and Retirement Adjustments
- The first entry below that will say Received Retirement income.
- You will make entries in this section that will determine the full taxability of your NY pension.
- Answer the questions on each screen
- On the screen titled Governmental Pension Exclusion enter the taxable amount to exclude from the NY return. Here is where you would enter the full amount of your retirement distribution.
- The next screen will show you the Pension Deduction Summary
ā€ˇFebruary 15, 2021
12:28 PM