Follow these steps to enter your New York State Pension exemption.
This is handled in the New York (NY) State portion of the tax return interview.
- When you reach the Changes to Federal Income screen >: Scroll to Wages and Retirement Adjustments
- Select Received retirement income > Start
- Answer the questions on each screen
- If applicable on the screen titled Governmental Pension Exclusion enter the taxable amount to exclude for the NY return
- The next screen will show you the Pension Deduction Summary
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
In addition, income from pension plans described in section 114 of Title 4 of the U.S. code received while you are a nonresident of New York State is not taxable to New York.
If your pension is taxable to New York and you are over the age of 59 ½ or turn 59 ½ during the tax year, you may qualify for a pension and annuity exclusion of up to $20,000. This exclusion from New York State taxable income applies to pension and annuity income included in your federal adjusted gross income.
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