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Retirement tax questions
TurboTax will take care of this automatically.
Maryland will exclude:
After the 1099-R entry screen (on the federal side):Up to $5,000 of military retirement income received by a qualifying individual during the tax year if the taxpayer has not yet attained the age of 65; or up to $10,000 of military retirement income received by a qualifying individual if the taxpayer is age 65 or over.
- On the Where is this Distribution From screen, mark the radio button for Military Pension or Active duty military retirement [depending on the version of TT].
- Enter the distribution amount (if it's not already there) and click Continue.
- On the screen Was This Distribution from a Qualified Plan, mark the blue Non-Qualified Plan box.
TurboTax will calculate the exclusion on your MD return.
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‎June 6, 2019
4:36 AM