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For pension income reported on a 1099-R form, how do I answer the question "where is your distribution from"? It is a pension from a private employer.

Not sure if I should choose "Not eligible for exclusion for those over 59 1/2" or "None of the above (select for deferred compensation 357 plans)".  It is not a deferred compensation plan.
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For pension income reported on a 1099-R form, how do I answer the question "where is your distribution from"? It is a pension from a private employer.

Although I have moved out of NY, a quick search shows that certain government pensions are tax-free, while non-government retirement pay is eligible for an exclusion up to $20K.  So I think the correct answer here is "none of the above" which will result in the $20K exclusion. 

https://www.tax.ny.gov/pit/file/information_for_seniors.htm

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4 Replies

For pension income reported on a 1099-R form, how do I answer the question "where is your distribution from"? It is a pension from a private employer.

@mergesteinbugler 

You'd have to tell us what state you are filing for. 

And your age at the end of 2022.

 

The Questions presented there depend on your state.....then someone familiar with that state might be able to answer for you

________
For example, here are a couple of different displays that show the state dependency and how the selections a are entirely different:

_________

NORTH CAROLINA

1099R_NorCar_2021_xDesktop.png

_________

LOUISIANNA

 

1099R_Louisiana.png

_________

NEW YORK

 

1099R_NewYork_2021.png

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

For pension income reported on a 1099-R form, how do I answer the question "where is your distribution from"? It is a pension from a private employer.

@SteamTrain Thanks for the reply.  New York State, over 59-1/2 by end of 2022.

For pension income reported on a 1099-R form, how do I answer the question "where is your distribution from"? It is a pension from a private employer.

   @Opus 17 

You are more familiar with NY, do you know the difference between those last two selections for a regular private pension?  Do both still allow a NY person the extra up-to 20,000 deduction for NY pension income?

 

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

For pension income reported on a 1099-R form, how do I answer the question "where is your distribution from"? It is a pension from a private employer.

Although I have moved out of NY, a quick search shows that certain government pensions are tax-free, while non-government retirement pay is eligible for an exclusion up to $20K.  So I think the correct answer here is "none of the above" which will result in the $20K exclusion. 

https://www.tax.ny.gov/pit/file/information_for_seniors.htm

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