I think my nys retirement pension was accidentally taxed on nys tax. It shouldn’t be taxable. How do I know or check if it is wrong and if so how do I fix once submitted but not yet accepted?
If your pension is being considered as taxable income, it will show up on Line 10 of your IT-201 and Line 26 will be empty.
If it is showing as taxable and you need to change it because it should not be: if your return gets rejected by NY for whatever reason, you can go back in and make changes and resubmit. If it gets accepted, you will need to amend your state return.
When you go to your 1099-R entry in the Federal section, at the very end it will ask you Where is this Distribution From? Select the category that applies to the pension, and once you click continue, your NY refund will now be adjusted to exclude this amount.
The NY state Pension Deduction Summary will also show that this has been removed. If you look at your IT-201, it should still show your pension amount on Line 10, but it should also be subtracted out on Line 26.
If your pension is being considered as taxable income, it will show up on Line 10 of your IT-201 and Line 26 will be empty.
If it is showing as taxable and you need to change it because it should not be: if your return gets rejected by NY for whatever reason, you can go back in and make changes and resubmit. If it gets accepted, you will need to amend your state return.
When you go to your 1099-R entry in the Federal section, at the very end it will ask you Where is this Distribution From? Select the category that applies to the pension, and once you click continue, your NY refund will now be adjusted to exclude this amount.
The NY state Pension Deduction Summary will also show that this has been removed. If you look at your IT-201, it should still show your pension amount on Line 10, but it should also be subtracted out on Line 26.