Why is Pension and Annuity Income Exclusion only showing $20000 for myself and wife on NYS return.?

[SandraM · Accepted solution]

The pension and annuity income exclusion has a $20,000 limit.  If you both qualify, you and your spouse can each subtract up to $20,000 of your own pension and annuity income. However, you cannot claim any unused part of your spouse’s exclusion.

[bmmnam19]

Thanks for your quick response! Yes, I am aware of that each of us can subtract $20,000, however, the NYS return is not showing the $40,000 that we both are entitled to deduct (they are only showing $20,000).

[SandraM]

Are you both over age 59 1/2?

[bmmnam19]

Yes

[bmmnam19]

My mistake! I failed to choose "none of the above" where the ? was Where is this distribution from?
Thanks,

[SandraM]

Oh, so glad you discovered the error!  Have a wonderful rest of your day!