I've seen several posts re: this issue but cannot seem to find a way to correct it based on the responses provided. There is no option in the federal section to note that this 1099-R is in any way not taxed by the state. I've deleted the 1099-R info and added it back several times now.
1. I am manually entering the 1099-R info
2. I have nothing checked for 2B
3. Box 7 "Distribution Code" is entered as 7, exactly as it appears on the 1099-R
4. I did not check IRA/SIMPLE/SEP
5. On the screen asking for the type of plan I have selected "Qualified Plan"
6. On the next screen, none of the options apply and I've selected that
7. I selected that I did not roll over or convert the money
8. I selected that I get regular payments from the account
9. I selected that I've gotten payments on 2021 and prior years
And that's it. I don't see anywhere to "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." as indicated on one of the solutions posted. Where is that in TurboTax? Do I have to have the Premium level of Turbotax to do that?
Thanks for your time.
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You may have to list "NY" in box 15 on your 1099-R entry, and then enter the distribution amount in box 16 to get the following screen, where you will see an option to check the box that says New York State and City Education. You can then enter the New York Distribution amount if it is not already listed.
Perfect! That solved it. Thanks so much.
Yep...if you don't put in any $$ in the NY Distribution Amount, or put a zero in there....then zero is subtracted from NY income.
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