1099-R for 2022 - partially state tax exempt.

[gjquigley]

I received a single 1099-R from TIAA covering 5 contract numbers. I amp a NY resident.  Two of the 5 are exempt from NY income tax the others are not.  How do I deal with this?  (Past years I received a separate 1099-R for each contract number)

[JosephS1]

We would need more information about the 1099-R you received.  Are all the contract numbers listed on the 1099-R?  Did you receive a letter or statement showing the separate breakdown of the individual contracts by contract number?  Once we know this information we can better assist you in entering the data for completing your tax return.

[gjquigley]

The 2nd page has a list of the contract numbers with Gross Distribution, Employee Contribution, Taxable amount, Federal Withholding, State Distribution and State Withholding.

The Taxable Amount and State Distributions are the same.

I have not received a letter or Statement indicating the separate breakdown this year.  I know from previous years which contract numbers are taxable in NY and which are exempt.  

From the information I have I can construct "1099-R" for each contract but how do I file this or indicate this in turbotax?

[JosephS1]

You can treat the single 1099-R as one of five if you are certain you have all the individual contract numbers, distribution amounts and most importantly the correct Distribution Codes for each contract.  If the single 1099-R has only one (1) distribution code in Box 7, that is how it has been reported to the Internal Revenue Service and would have to be reported on your return as such for Federal purposes. 

The 2 contracts you refer to as tax-exempt for New York tax purposes will have to be entered as a New York deduction from Federal income.  This can be accomplished by only including the taxable portion for New York purposes in the information area for Box 16 of your 1099-R for State Distribution or by entering it manually through the TurboTax Desktop Forms feature at the upper right of the desktop screen.  After clicking on Forms, go to Page 2 of your IT-201; at line 26 enter the excluded amount.  I caution you from using the manual entry method, however, as manually entering data on the form would cancel your TurboTax Guarantee.

If possible, I suggest you contact TIAA and request they do what they did in the past by sending you the five (5) separate 1099-Rs as the most practical solution to this problem.

@gjquigley