DMarkM1
Expert Alumni

Retirement tax questions

On the SC tax forms military retirement income is computer coded with an "M" to identify the deduction.  To take advantage of this be sure you have answered all the military questions in "My Info" and when you entered the 1099-R for your military pension you answered the follow on questions indicating this is military retirement pay.  Once you get into the SC interview the questions will be triggered to verify your military retirement income to be excluded.  

 

Right now, in South Carolina, military retirees under the age of 65 can claim state tax exemptions of up to $14,600. Retirees who are over 65, can claim an exemption of up to $27,000.

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