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Retirement tax questions
My wife and I are both over 70 years old. So the exclusion should apply.
I am using TurboTax Deluxe, Windows Desktop.
In the Iowa step-by-step interview, it posts an amount reported on federal for my IRA distributions. Then it asks for the amount to be excluded from Iowa. It is the total amount. So zero is reportable to Iowa.
Likewise for my pension amount.
If I then look at Iowa 1040 schedule 1, line 7, "IRA/Pension/Railroad Retirement Income", it is still zero. So it doesn't get subtracted from my Federal reported income.
It appears to me that it is not linking the excluded amount into the Schedule 1 line 7.
March 2, 2024
11:38 AM