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Retirement tax questions
Yes. I have tested Turbo Tax and in my test return, the military exclusion appears. Here is how you qualify for the exclusion according to this State of Maryland source.
- You were 65 or older or totally disabled, or your spouse was totally disabled, on the last day of the tax year; and
- You included on your federal return income received as a pension, annuity or endowment from an “employee retirement system.” A traditional IRA, a Roth IRA, a simplified employee plan (SEP), a Keogh Plan or an ineligible deferred compensation plan does not qualify.
If you qualify, then you may have missed a screen that asks if this is active or reserve military retirement. This screen will be in a follow-up screen after you enter your 1099R. This is what the screen looks like. Make sure you place a check mark that indicates this is active or reserve military retirement.
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February 3, 2025
12:21 PM