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To ensure that you receive the military retirement exclusion you must answer all military questions accurately. Note: TurboTax will compute this exclusion for you automatically if your entries are accurate.
For instance, in the personal information section of TurboTax, it asks both taxpayers if they are or were military. If you answer those questions accurately, TurboTax will automatically setup the return for the exclusion. Note: TurboTax will compute this deduction for you automatically if your entries are accurate.
After you enter your 1099-R, TurboTax will ask the additional questions below.
To ensure that you received the exclusion you may preview the return to see if the exclusion was applied.
Using TurboTax Online you can view the return while in progress. Preview your return by following the steps below.
You can view your entire return or just your 1040 form before you e-file:
See sample below of the Maryland Resident Income Tax return. Line13 will show you the amounts of the pension exclusions for 2022.
Military Retirement Income. Individuals at least 55 years of age on the last day of the taxable year may claim up to $15,000 of military retirement income, including death benefits, received in the taxable year. Individuals under the age of 55 on the last day of the taxable year may claim up to $5,000 of military retirement income received in the taxable year..
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