Retired Teacher, received a 1099-R for total (lump sum) distribution from KPERS which was rolled into a Traditional IRA (1099-R, Box 2b "Total Distribution" and Box 7 Distribution code is "G-Direct rollover to a qualified plan, etc, etc, or an IRA). Turbotax is asking me to select the source of the distribution. The choices that potentially apply to me are, "KPERS or other qualified KS public pension benefits" or "None of the above". I don't understand the purpose of the question or how to know the correct answer. The distribution Payer is KPERS. Does that mean the source is "KPERS or other qualified KS public pension benefits"?
Below is the help information that pop's up when clicking the "Learn More" link. It doesn't explain the purpose of the question. This is confusing.
Kansas Special Handling of Pension Distributions
TurboTax Kansas uses the following pension code:
K - Federal retirement benefits, Kansas pension plans, or Railroad Retirement benefits
You can deduct federal civil service, Railroad Retirement Board and military retirement or disability benefits from your Kansas taxable income.
Kansas Public Employee's Retirement System (KPERS) retirement benefits are not taxable in Kansas. Kansas pension plans include:
- Kansas Public Employees' Retirement Annuities
- Kansas Police and Firemen's Retirement System Pensions
- Kansas Teachers' Retirement Annuities
- Justices and Judges Retirement System
- Board of Public Utilities
- Retirement annuity contracts for employees of the State Board of Regents or educational institutions under its management
- Kansas first class cities pension benefits (not covered by KPERS)
