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Tax help for military filers
The military retirement income deduction (5000 or 15,000 if age 55 or older) is automatically subtracted from your MD income based on the entries in your Federal interview.
First be sure you have indicated you are military/retired in the "My Info" section. Next when entering your 1099R you will get a follow on question asking about the source of the retirement. Be sure to select it is military retirement pay.
Next, to see the subtraction you can view a summary of your MD return in TurboTax online versions.
- Click "Tax Tools" in the left hand menu
- Click "Tools"
- Click "View Tax Summary"
- Click "Preview My 1040" in the left hand menu
- Click "View MD summary" in the left hand menu
You should see the subtraction in the "Subtraction from income line"
For TurboTax desktop just go to the "Forms view" and look at the MD return line 10a on form 502.
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March 23, 2021
9:14 AM