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I have a 1099-r from NYS Local Police & Fire Retirement System. in box 12 they have exempt. Turbo won't let me put that in. NYS retirement pension I do not pay State tax.

 
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3 Replies

I have a 1099-r from NYS Local Police & Fire Retirement System. in box 12 they have exempt. Turbo won't let me put that in. NYS retirement pension I do not pay State tax.

Box 12 of the 1099R only takes dollar amounts.  

Enter the rest of the 1099R exactly as it is, then after the 1099R is entered you will get questions about the Retirement Plan and when you correctly answer these questions, it will exempt it from NY State taxes.  

This information entered in the 1099R section will be transferred to the State of NY return and will be excluded from Income tax by NY. 

Your pension income is not taxable in New York State when it is paid by:

  • New York State or local government
  • the federal government, including Social Security benefits
  • certain public authorities
mandawg11
New Member

I have a 1099-r from NYS Local Police & Fire Retirement System. in box 12 they have exempt. Turbo won't let me put that in. NYS retirement pension I do not pay State tax.

i have a 1099R from NY and it says exempt in box 12 , TurboTax deluxe won't let me enter it , it wants a number, how do i proceed?

DianeC958
Expert Alumni

I have a 1099-r from NYS Local Police & Fire Retirement System. in box 12 they have exempt. Turbo won't let me put that in. NYS retirement pension I do not pay State tax.

When entering a 1099-R that is exempt from New York State tax, in the Federal section of TurboTax you do not enter anything for box 12.  Once you continue you will see a question asking Where is this Distribution From?

 

Pick the option for which New York State Department the distribution is from and the program will not include the distribution in your income for New York State Tax purposes.

 

Please see DanielV01's post for more information

 

@mandawg11

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