Even though you had not turned 59 and a half during 2024, if you were receiving that pension distribution as a beneficiary of someone who passed away, you are still eligible to exclude up to $20,000 based on the age of the person who would have received the pension.
When you go through your New York state return, there will be some questions to answer regarding the decedent's date of birth, total pension, pension excluded on the decedent's return, and your percentage of the total distribution (in the case of multiple beneficiaries receiving payments).
Be sure to visit that section of the state return. It can be found by going to the screen titled, Changes to Federal Income. Then, scroll to Wage and Retirement Adjustments and click Start or Update at the top of that section beside Received Retirement Income.
For reference, here is a link to the New York Form IT-201 Instruction Booklet. Take a look at the left hand column of page 10 under Beneficiaries to learn more.
@Dan175
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