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I don't think that my NYS teacher's pension is being properly deducted for NYS taxes. The pension exclusion amount is not correct on the NYS return.
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I don't think that my NYS teacher's pension is being properly deducted for NYS taxes. The pension exclusion amount is not correct on the NYS return.
During the federal interview in TurboTax you will need to indicate that it's a New York State Teacher's Retirement, after you enter the 1099-R. Make sure to choose that your distribution came from New York State and City Education since you indicated you have a New York State Teachers' Retirement System pension.
Make sure to say Yes when TurboTax asks if your distribution was from a qualified plan.
Your New York State Teachers' Retirement System pension will be a subtraction on your New York State return (IT-201) on line 26.
Click on the screenshots below for visual references.
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I don't think that my NYS teacher's pension is being properly deducted for NYS taxes. The pension exclusion amount is not correct on the NYS return.
This doesn't work, my NY Teachers Retirement Pension is not being deducted from NY state income like in 2018 ... I went back to 2018 and now it is showing like I entered that it was a US Government distribution when I know I didn't .... so for NY state the deduction is limited to $20,000 and I am showing an extra tax of over $2,000 What is going on? Please help.... I have used Turbotax for years on this same issue and have never had a problem.
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