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On the OK return it allows you to deduct up to $10K *for each eligible taxpayer* on taking a law enforce pension distrib, but it did NOT deduct $20K on my joint rtn, why?

The info about each eligible taxpayer being able to deduct $10K (each) was in the learn more box. Why isn't the OK state return deducting $20K total for my joint return?
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5 Replies
ErnieS0
Expert Alumni

On the OK return it allows you to deduct up to $10K *for each eligible taxpayer* on taking a law enforce pension distrib, but it did NOT deduct $20K on my joint rtn, why?

Check each of your 1099-R entries to make sure you told TurboTax each pension is from an Oklahoma government retirement system.

 

1. Type 1099-r in Search (magnifying glass) in the upper right

2. Select Jump to 1099-r

3. Tap EDIT next to your pension

4. Continue until you see “Where is your distribution from?”

5. Select Federal or Oklahoma government retirement or disability benefits

 

Oklahoma allows each individual to exclude their retirement benefits up to $10,000, but not to exceed the amount included in the federal adjusted gross income.

 

The retirement benefits must be received from the following:
 

  • The Civil Service of the United States,
  • The Oklahoma Public Employees Retirement System of Oklahoma,
  • The Oklahoma Teacher’s Retirement System,
  • The Oklahoma Law Enforcement Retirement System,
  • The Oklahoma Firefighters Pension and Retirement System,
  • The Oklahoma Police Pension and Retirement System,
  • The employee retirement systems created by counties,
  • The Uniform Retirement System for Justices and Judges,
  • The Oklahoma Wildlife Conservation Department Retirement Fund,
  • The Oklahoma Employment Security Commission Retirement Plan, or
  • The employee retirement systems created by municipalities.
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On the OK return it allows you to deduct up to $10K *for each eligible taxpayer* on taking a law enforce pension distrib, but it did NOT deduct $20K on my joint rtn, why?

I have verified that I checked from an Oklahoma Government Retirement system when entering the 1099-R.

When it says, "allows each individual taxpayer to deduct up to $10,000", I took that to mean on a married filing jointly return, $10K could be deducted for both the retiree and the spouse.  Thus, equaling a $20,000 deduction on the Oklahoma State return. TurboTax is only deducting $10K. Will it NOT deduct the additional $10K for the spouse unless both persons are OK Govt retirees? If that's not the reason, I don't understand the part of your original response that said, "Oklahoma allows each individual to exclude their retirement benefits up to $10,000, but not to exceed the amount included in the federal adjusted gross income." I don't know this amount because TurboTax hasn't shown me this information or my adjusted gross income. Please advise further. 

 

DanaB27
Expert Alumni

On the OK return it allows you to deduct up to $10K *for each eligible taxpayer* on taking a law enforce pension distrib, but it did NOT deduct $20K on my joint rtn, why?

Yes, if both spouses are OK government retirees then you can deduct up to $20,000 on your return ($10K for each spouse). But if only one spouse meets the qualification then you can only deduct $10,000.

 

 

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On the OK return it allows you to deduct up to $10K *for each eligible taxpayer* on taking a law enforce pension distrib, but it did NOT deduct $20K on my joint rtn, why?

Is any pension distribution deductible on my Oklahoma tax return?    I am of retirement age and received retirement distribution from a qualified retirement plan in 2022?    

BillM223
Expert Alumni

On the OK return it allows you to deduct up to $10K *for each eligible taxpayer* on taking a law enforce pension distrib, but it did NOT deduct $20K on my joint rtn, why?

Maybe. Only distributions from the retirement plans below can be deducted in OK.

 

The retirement benefits must be received from the following and satisfy the requirements of the IRC: 

• An employee pension benefit plan under IRC Section 401, 

• An eligible deferred compensation plan under IRC Section 457, 

• An individual retirement account, annuity or trust or simplified employee pension under IRC Section 408, 

• An employee annuity under IRC Section 403 (a) or (b), United States Retirement Bonds under IRC Section 86, or 

• Lump-sum distributions from a retirement plan under IRC Section 402 (e). Provide a copy of Form 1099-R or other documentation.

 

Notice that this includes only plans and not IRAs.

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