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posted Mar 23, 2025 1:17:46 PM

Bailey Exclusion

I have 5 retirement contracts from TIAA CREF.  Four of these qualify for the Bailey exclusion but one does not.  The 1099R form from TIAA CREF lumps them all together.  What is the best way to enter the income in Turbotax so that the state exclusion amounts are correct.

 

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1 Replies
Expert Alumni
Mar 24, 2025 7:04:39 AM

To clarify, were all of the distributions reported on one 1099R? If so, you can split the 1099R into two. Separate the distribution on the contract that doesn't qualify for the Bailey Settlement and report it on one 1099R  then the remaining on a second 1099R.