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Retirement tax questions
You are correct. If there is only one MD subtraction on the form 502SU the form will not generate for mailing a MD return. However, the subtraction amount does happen on the MD form 502 and when e-filing, the form 502SU will be sent. Verify your entries in the steps below.
- In the "My Info" section "Edit" your information to ensure you have indicated your military status (Retired)
- In the "Wages & Income" section "Edit" the applicable 1099-R and ensure on the page following the form entries and asking "Where is this distribution from?", you select "Active or Reserve Military Retirement"
- This will activate the code "U" subtraction amount up to $12,500 for those under age 55 or up to $20,000 for those age 55 or over.
Next in TurboTax online versions you should see the subtraction amount in the MD Tax Summary using these steps:
- In the left hand menu select "Tax Tools"
- Select "Tools"
- Select "View Tax Summary"
- Select "MD Tax Summary"
In desktop versions you can view your form 502 in the forms mode and look at line 13.
You can also "Open Form" and find the MD 502SU and open it to see the entries there.
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‎February 6, 2024
6:46 AM