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Retirement tax questions
I have verified that I checked from an Oklahoma Government Retirement system when entering the 1099-R.
When it says, "allows each individual taxpayer to deduct up to $10,000", I took that to mean on a married filing jointly return, $10K could be deducted for both the retiree and the spouse. Thus, equaling a $20,000 deduction on the Oklahoma State return. TurboTax is only deducting $10K. Will it NOT deduct the additional $10K for the spouse unless both persons are OK Govt retirees? If that's not the reason, I don't understand the part of your original response that said, "Oklahoma allows each individual to exclude their retirement benefits up to $10,000, but not to exceed the amount included in the federal adjusted gross income." I don't know this amount because TurboTax hasn't shown me this information or my adjusted gross income. Please advise further.