If your pension is from a government agency, it is not taxable in NY. An IRA may qualify for the $20,000 exclusion (age 59.5+) according to Publication 36. The program will handle the $20,000 exclusion but you must enter the nontaxable retirement.
Follow these steps.
- Log into Turbo Tax
- Select the State Taxes tab
- As you navigate through the screens, you will see a screen that says Changes to Federal Income.
- Scroll down to Wage and Retirement Adjustments
- The first entry below that will say Received Retirement income.
- Start/ Edit
- Retirement Distributions Summary, Done
- On the screen titled Governmental Pension Exclusion enter the taxable amount to exclude from the NY return. Here is where you would enter the full amount of your retirement distribution.
- Continue
- The next screen will show you the Pension Deduction Summary
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
