Yes, it is exempt, providing you qualify otherwise. For retired military pay, taxpayers who are 62 or older, or permanently and totally disabled regardless of age, may be eligible for a retirement income adjustment on their Georgia tax return. Retirement income includes:
- Income from pensions and annuities
- Interest income
- Dividend income
- Net income from rental property
- Capital gains income
- Income from royalties
In TurboTax, please enter 1099-R exactly as it appears and answer some follow up questions. Often, the tax treatment for state is determined on the federal side of the tax return. Also, be sure to complete your state interview.
- Federal Taxes
- Wages and Income
- Scroll down to Retirement
Plans and Social Security
- Select IRA, 401(k), Pension Plans (1099-R)
