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Returning Member
posted Jan 31, 2025 8:48:45 AM

Turbotax is saying my military retirement exclusion is only $17,500 at my age of 69. It should be $65,000. What should I do?

how can I correct my military exclusion amount?

0 6 1256
6 Replies
Level 15
Jan 31, 2025 8:50:47 AM

What state tax return are you using that has the military retirement exclusion?

Returning Member
Jan 31, 2025 10:10:59 AM

Georgia.  Thank you

Level 15
Jan 31, 2025 10:12:54 AM

The Georgia military retirement exclusion is a tax break you can get when you have military retirement income and you are under 62 years old. This only applies to qualified military retirement income.

Returning Member
Feb 4, 2025 1:39:17 PM

Georgia Tax Exemption for Military Retired Pay: Retired service members are eligible for the following state tax exemptions on military retired pay:

  • Under 62 years old - up to $17,500
  • Under 62 years old and have at least $17,500 of earned income – an additional $17,500
  • 62 to 64 years old - up to $35,000
  • 65 years old or older - up to $65,000

Is this not right?  I found this on line on a military site

Level 15
Feb 4, 2025 1:45:28 PM

All Georgia residents between the age of 62 and 64 are eligible for Retirement Income Exclusion of $35,000

All Georgia residents age 65 or older are eligible for Retirement Income Exclusion of 65,000

 

The military retirement income exclusion only comes into play if you are under the age of 62. 

At age 62 or older then All retirement income can be excluded up to the limits posted.

Level 15
Feb 4, 2025 2:40:49 PM

Of course, if you are marrried, and you are 69 years old...and the 17k exclusion is still being applied...

then

....if your spouse is under age 62, perhaps you accidentally indicated that 1099-R is hers, and not yours.