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Retirement tax questions
This answer is for NC residents only.
As long as you did not indicate it was eligible for the Bailey Settlement when you entered the 1099-R in the Federal section.....(would have to have had 5 yrs of service before 12 Aug of 1989 to do that)..
Then, the entire Federally-taxable amount of a US Military retirement DFAS 1099-R is eligible for the US Uniformed services retirement benefit deduction. That appears to be your $25,126.32.
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IF you did indicate it was eligible for the Bailey Settlement when you entered the 1099-R in the Federal section, then none of it is eligible for the US Uniformed Services deduction. 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.*
4 weeks ago