turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Oxen
New Member

Bailey v.settlement

How do I fill for this benefit that applies to me.

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies
CatinaT1
Employee Tax Expert

Bailey v.settlement

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.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Bailey v.settlement

(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...

_________________________________

 

1099R_NorCar_2014.png

 

 

_________________________________

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies