Retirement tax questions

@nctaxed 

 

 IF it is not eligible for the Bailey settlement, and is NOT an actual Military retirement...then you would choose None of the above.

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I spent the last hour looking it up.

 

The $4,000 deduction was eliminated starting waaaaay back in the 2014 NC tax return.

 

The software properly eliminated it starting in that year's tax return...(And I have back to 2013 installed, where it was available for that year)

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ANNND, if you look for and download the actual NC D-400 Instructions for that year (the D-401 PDF) at the NCDOR website....the What's New on page 4 says:

 

"Deduction for Other Retirement Benefits. There are no longer deductions
available to certain taxpayers for up to $4,000 for federal, state, or local
government retirement benefits or up to $2,000 for private retirement benefits"

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

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