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In the TurboTax software, please make sure that you picked the correct classification in the software if your 1099-R is fully exempt.
Your pension income is not taxable in New York State when it is paid by:
Please follow these steps and make sure all the required fields are completed:
Lastly, all Social Security retirement benefits are exempt from NYS taxation.
I have followed your advice but I still owe taxes according to Turbo Tax. I have been using the
Deluxe version of Turbo Tax. I have gone thru 1099-R area but nothing works.
Total Federal taxable non-distributions $55,003
NY deduction for government pensions 0
NY deduction for Railroad pensions 0
NY deduction for other pensions $20.000
Total taxable pensions and IRA
distributions $35,003
This is what I get.
Make sure that the IRA/SIMPLE/SEP box is not checked.
It's not checked.
Please confirm that you marked off your pension as coming from NYS and/or local governments by checking off option #1 (see screenshot below).
This will carry over to the NYS return and exempt your NYS pension income because it is paid by NYS or local government.
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