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"We have an RMD from a State of Connecicut 403b retirement plan (TIAA-CREF). Is that amount eligibe for the 25% deduction?"
"We have an RMD from a State of Connecicut 403b retirement plan (TIAA-CREF). Is that amount elegbe for the 25% deduction?"
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"We have an RMD from a State of Connecicut 403b retirement plan (TIAA-CREF). Is that amount eligibe for the 25% deduction?"
For teachers, the 403b RMD distribution is not eligible for the 25% deduction. Only the Connecticut State pension income (TRS) qualifies for the tax break. The TRS exemption increases to 50% beginning in the taxable year commencing January 1, 2019.
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"We have an RMD from a State of Connecicut 403b retirement plan (TIAA-CREF). Is that amount eligibe for the 25% deduction?"
For teachers, the 403b RMD distribution is not eligible for the 25% deduction. Only the Connecticut State pension income (TRS) qualifies for the tax break. The TRS exemption increases to 50% beginning in the taxable year commencing January 1, 2019.
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