I am filling out my State of North Carolina tax return and I am being told that North Carolin allows a dedication for certain benefits received by a retired military member. I need assistance to determine if I qualify. I am a 20 year veteran.
Do I qualify for this deduction?
Beginning in 2021, the following retirement payments received from the United States government that are included in federal income are allowed a deduction on your North Carolina tax return:
* Military retirement payments received by a retired member who served at least 20 years in the military or who was medically retired from the military.
* Payments from the Survivor Benefit Plan to a beneficiary of a retired member who served at least 20 years in the military or who was medically retired from the military.
