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ConwayP
New Member

UN Pension deduction in NY State (no 1099-R)?

I receive a UN Pension.  In NY State, since I am over 59 1/2 years old, this is deductible from my AGI (up to $20,000) on my state return.  The UN does not issue 1099-R's.  In TurboTax if I enter the pension as "Other Income" on my Federal Return, there is no way to adjust my AGI on my NY return.  How do I fix this?  It looks like adding it to my Federal return without a 1099-R is not straight forward and creates other problems.

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2 Replies
Jordan Mike
Returning Member

UN Pension deduction in NY State (no 1099-R)?

What I was told or heard that you can deduct the money you have paid (contribute to your pension) especially if you have an (early retirement) and worked less than 15 years, (ex, 10 years only or so) 

UN Pension deduction in NY State (no 1099-R)?

It depends. Taxation of pension-plan distributions and individual retirement accounts (IRA) in New York State and New York City is complicated. Full taxation applies when the recipient is a resident of New York at the time of distribution. However, the first $20,000 of annual distribution is exempted if the IRA or pension is received by a person 59.5 or older. This is separate from early retirement and working less than 15 years, which is a NYC law, not Federal.  Exclusion of $20,000 is applicable to regular payments connected with personal service performed before retirement and to lump-sum payments from IRAs and qualified self-employed plans. The exclusion can be availed of by beneficiaries. As for distributions to nonresidents, taxation is applicable to services performed in New York. A $20,000 exemption if the distribution is received when 59.5 or older. Distribution is not taxable if it can be treated as an employer-provided annuity.

 

 Publication 36, General Information for Senior Citizens and Retired Persons.

@Jordan Mike

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