Retirement tax questions


@IM10 wrote:

In order to file, I had to  leave blank lines 14,15, and 16. However, $60 were withheld from my payment, as shown on Vanguard 1099-R form. Once I entered 0 on line 14, my NY state tax return was reduced by $60. Seems unfair that I lost $60 because of the glitch in the TurboTax.


If there was tax withholding in box 14 then it must be entered along with the state ID and box 15 information.  Box 16 for NY MUST be the same as box 1, some 1099-R issuers  leave it blank because it is understood that it is the same as box 1 if only one state but NY insists that it have the box 1 amount.

 

There is no TurboTax "glitch", NY is the only state that rejects if box 16 is blank.  It is NY that does not follow the 1099-R industrial standards.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**