Pension exclusion for Delaware

[smbagshaw]

My husband and I are both over 60.  He has a pension over $12,500 and and gets the pension exclusion for Delaware. I do not have a pension. If I do an IRA withdrawal of at least 12,500 from my IRA, do I get the Delaware $12,500 exclusion, too?

[Anonymous_]

I will page @dmertz, but you might have to contact Support.

How do I contact TurboTax? (intuit.com)

[TomD8 · Accepted solution]

Yes, IRA distributions do qualify for the DE exclusion, as long as you are age 60 or over.

"Eligible retirement income includes dividends, interest, capital gains, net rental income from real property and qualified retirement plans (IRS Sec. 4974), such as IRA, 401 (K), and Keough plans, and government deferred compensation plans (IRS Sec. 457)."

https://revenue.delaware.gov/frequently-asked-questions/personal-income-tax-faqs/

[smbagshaw]

Thank you for the quick and complete explanation!

[Gow212]

Does Turbo Tax account for the 12,500  pension exclusion in Delaware automatically?

[ThomasM125]

Yes, your pension exclusion will automatically be transferred to the Delaware return. You will see a screen where it is listed and you will be given an opportunity to adjust it if necessary.

@Gow212