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anjlynn
New Member

Is OK Teacher Retirement considered "Federal or Oklahoma government retirement or disability..."?

On the Turbotax form, is OK Teacher Retirement income considered "Federal or Oklahoma government retirement...?
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3 Replies

Is OK Teacher Retirement considered "Federal or Oklahoma government retirement or disability..."?

Yes, it is.

 

You're entitled to deduct up to $10,000 of these retirement benefits from your Oklahoma income for each eligible taxpayer:

  • Civil Service retirement from the United States
  • Oklahoma Public Employees Retirement System of Oklahoma
  • Oklahoma Teacher's Retirement System
  • Oklahoma Law Enforcement Retirement System
  • Oklahoma Fire Fighters Pension and Retirement System
  • Oklahoma Police Pension and Retirement System
  • Employee retirement systems created by counties
  • The Uniform Retirement System for Justices and Judges
  • Oklahoma Employment Security Commission Retirement Plan
  • Employee retirement systems created by municipalities
  • United States Retirement Board benefits included in your federal income

Each individual can deduct up to $10,000 of such retirement income.

Is OK Teacher Retirement considered "Federal or Oklahoma government retirement or disability..."?

Where do I deduct/take the deduction for $10,000 for my Oklahoma Teacher Retirement on Turbo Tax?

DaveF1006
Expert Alumni

Is OK Teacher Retirement considered "Federal or Oklahoma government retirement or disability..."?

It depends. once you enter your 1099R in your return, there will be a follow-up question asking you the source of the income. Here you would indicate the is from Oklahoma Government Retirement. Once you check this box, $10,000 is automatically reported as an exclusion in the retirement worksheet in your Oklahoma state return and entered as a subtraction on Schedule A-1 in your Oklahoma return.  It is also reflected in Oklahoma subtractions in Line 2 in Form 511.

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