Bailey v.settlement

Forum|Forum|5 years ago
July 12, 2020
2 replies
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How do I fill for this benefit that applies to me.

Other

CatinaT1

Level 15

When you are entering your 1099-R, there will be a question that says Where Is This Distribution From?.

There is a checkbox on this screen that says Bailey settlement retirement benefits. Make sure you check that box.

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SteamTrain

Level 15

(NC Residents only)

You enter all your 1099-R data as usual in the software.

Then as you step thru the followup pages, you'll come to one where you select the "Bailey Settlement" as the source of those $$. Picture below. but read all the notes I've added.

(Make sure you really are qualified to use it for your Pension $$. Maybe not yourself, but some people are mis-informed about being qualified.. Only those with Military, US Govt pensions, and NC-State Govt/Public-sourced pensions that were in their pension system at least 5 years before 12 Aug of 1989)

https://www.ncdor.gov/taxes-forms/individual-income-tax/bailey-decision-concerning-federal-state-and-local-retirement-benefits

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