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New Member
posted Jan 30, 2023 5:08:21 PM

How do I file a 1099 R, from the NC Firemen and rescue Squad Workers Pension fund?

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3 Replies
Expert Alumni
Jan 30, 2023 5:21:51 PM

Click this link for steps on How to Enter a 1099-R

 

Type '1099-R' in the Search area, then click on 'Jump to 1099-r' to get to this section (which is under the Wages & Income heading). 

New Member
Mar 18, 2024 10:22:43 AM

Are the benefits received from the NC Firemen and Rescue Squad Workers Pension Fund taxable for NC state tax purposes?

Expert Alumni
Mar 18, 2024 11:13:27 AM

In many cases, the retirement benefits are not taxable on the North Carolina state income tax return.

 

Firefighters and Rescue Squad Workers Pension Fund may be found here.

 

Page 13 discusses taxability of the retirement benefits. 

 

 

North Carolina Income Tax 

 

If you are a North Carolina resident and have maintained five or more years of pension fund service credit as of August 12, 1989, your monthly benefit paid by the pension fund is not subject to North Carolina income tax. 

 

If you do not have five years of maintained pension fund service credit as of August 12, 1989, the taxable portion of your monthly benefit is subject to North Carolina income tax. 

 

The benefits paid to a beneficiary receiving a monthly line of duty survivor death benefit are also subject to the federal and North Carolina income tax provisions described above.