Retirement tax questions

@davelecker 

 

Do not override...jus tget it entered correctly and there is no need for an overrride.

 

Did you also enter the box 2a $$ amount as the NC Distribution amount, on the page where you designated it as being Bailey Eligible?  (Back in the Federal section....That is where the Bailey selection is made as a part of that 1099-R entry....on a follow-up page after the main 1099-R form)

 

That box 2a value needs to be in there so that the NC forms know how much to deduct from NC income.

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A second possible error, if you designate it as Bailey eligible, Do Not also enter the same amount as being Military Retirment $$ in the NC interview.   The Military Retirment designation is only for folks who were not Bailey eligible.

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to my knowledge, NC hasn't yet issued guidance on whether Bailey eligible Military retirements should start just using the Military Retirment instead...or not.

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*