You'll need to sign in or create an account to connect with an expert.
First check that you have selected former military and NC as your resident state in the "My Info" section. Then "Edit" the 1099-R for your retirement pay. The follow on question will ask about the NC retirement,
Here are the requirements for exclusion of your retirement from NC taxes. The amount should have populated the box from your 1099-R but if not, and Bailey applies to you select the button and put the retirement amount in the box.
The Bailey settlement applies to pension plan participants before August 12, 1989.
Your defined benefit distributions qualify if you had five or more years of creditable service as of August 12, 1989 from one of the following:
- Federal Employees' or US Civil Service retirement system
- North Carolina Teachers' or State Employees'retirement system
- North Carolina Local Governmental Employees' retirement system
- North Carolina Consolidated Judicial retirement system
You also qualify if you made contributions to the North Carolina 401(k) or 457 plan before August 12, 1989.
And the Federal Employee retirement distributions include those for the Military (in case you were unsure):
___________________________
But the part about 5 years of service before 12 Aug of 1989 still applies. Many newer Military retirees find they are not eligible to exempt their Military pensions from NC taxes.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
tocguy
Level 3
morg2019
Level 2
jsmart47
New Member
dthomp1027
New Member
a-concerned-user
Returning Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.