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Retirement tax questions
Hi. My pension distribution (loan offset) in 2020 was $9,831. In doing 2021 return I went back to 2020 for review and saw that the NYS income adjustment to Federal for the pension exclusion was only $4,096. I can't figure out how this number was calculated. It seems it should be the whole amount of $9.831 which is below the maximum $20k exception for single.
I saw some notes that said there was a glitch and you should go back and update TT and then go through 1099 R entries again. My return was filed but I created a duplicate copy to see if I could do that and if it would change. But it did not.
Can you help please? Diana
‎April 4, 2022
12:29 PM