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Retirement tax questions
If you are talking about the Distribution Codes on a 1099-R from a pension plan then it will probably be a Normal Distribution Code of 7. If you are talking about Turbo Tax State Tax and in my case Pennsylvania, you are referring to the drop down of 'State Type Code' that has 17 different options. For PA - 'PA does not tax income from pensions for residents aged 60 and over'. I would defer to the experts at Turbo Tax to answer the question of which of the 17 different options is the one for 'normal distribution from a pension plan'. Because Turbo Tax will probably calculate it as taxable income, which it should not, be careful.
‎February 18, 2025
1:21 PM