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pfleck
New Member

New York State Teachers' Retirement System income should not be taxed in NYS. How do I deduct it from my Federal AGI?

 
3 Replies
FaithY
Expert Alumni

New York State Teachers' Retirement System income should not be taxed in NYS. How do I deduct it from my Federal AGI?

Enter your 1099-R and TurboTax will ask you several questions about your retirement income. You will need to indicate that you have 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.

DEisen
Level 1

New York State Teachers' Retirement System income should not be taxed in NYS. How do I deduct it from my Federal AGI?

This doesn't work

JotikaT2
Expert Alumni

New York State Teachers' Retirement System income should not be taxed in NYS. How do I deduct it from my Federal AGI?

The page to allocate the retirement to distributions will be on the Federal side and can be reached as follows:

 

Go back to the Federal section of the program. 

  1. Select Income & Expenses 
  2. Select "IRA,401(k), Pension Plan Withdrawals (1099-R) 
  3. Select "Edit" under the appropriate 1099-R form 
  4. Proceed to answer through the screens until you see "Select Your State".  (You should see this after enter your details from the 1099-R, and the question asking if you are a public safety officer. 

 Make sure you have selected New York as shown in the picture below.

 

1099-R teacher

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