pengamo69
New Member

Retirement tax questions

I had to file an amendment for my NYS Tax Return in 2014 since Turbotax does not handle income from NYC Teacher's Retiremente Stystem as non taxable (no matter how many boxes you check). It is, instead, handled as taxable income and a $20,000 exclusion is applied.

This is how a have fixed it in the years that followed: go to your IT-203 (page 2) line 25-Pensions of New York State and local governments and the federal government. Manually enter your pension income. If you see $20,000 on line 28 (Pension and annuity income exclusion) enter zero. That will do it