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My New York State pension is federally taxed but is exempt from tax onNY state return, yet it still shows as taxable income on my state return. How do I fix that?
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My New York State pension is federally taxed but is exempt from tax onNY state return, yet it still shows as taxable income on my state return. How do I fix that?
When you enter your 1099-R form, on the screen that asks What kind of retirement plan do you have with trs?, select Qualified plan.
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My New York State pension is federally taxed but is exempt from tax onNY state return, yet it still shows as taxable income on my state return. How do I fix that?
My pension is from NYS teachers retirement. I did fill in anything but NY state when I entered my 1099-R. I also checked NY S retirement and qualified plan. Still shows as taxable income on state return
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My New York State pension is federally taxed but is exempt from tax onNY state return, yet it still shows as taxable income on my state return. How do I fix that?
I have created a scenario in Turbo tax online and did the same thing you did. I then verified to see if there was a subtraction made in the NYS tax summary and it reported the subtraction correctly.
To verify, go to tax tools>tools>view tax summary>view the NYS Tax summary. Look at the New York Subtractions in the summary to see if the amount of the pension is being substracted.
@ubgrad
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