Retirement tax questions

@RonGenesis 

 

As long as you still lived in NC during 2023, and are filing a NC tax return, the Bailey settlement selection is still available.

Edit that 1099-R in the Federal section, and on one of the pages AFTER the main form, there will be one that asks.."Where Is This Distribution From?".......the Bailey selection is the second one on that page.  (I'll post a picture later today).  The NC Distribution amount must be set as the $$ value form box 2a.

 

Note that there is now a Military (Uniformed services) Retiree deduction for those who do not meet the Bailey qualifications.  You cannot get both.  SO, if you select the Bailey Settlement deduction, do not also select the Uniformed services Retirment deduction when you go thru the NC section Q&A.   It's one or the other, not both.

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