topic New York Pension and Annuity Income Exclusion in State tax filing

New York Pension and Annuity Income Exclusion

melpaw57 — Thu, 24 Feb 2022 15:35:50 GMT

I am a retired New York State employee with a pension that is exempt from New York State Income tax. I have entered that information into Turbo Tax as per my 1099R form. However on my IT201 (New York Resident Income Tax Return) it is showing my pension amount as taxable, and it is showing a pension and annuity income exclusion which I thought should only apply if the pension is taxable.

Can anyone shed any light on this? Am I misunderstanding something?

Thank you.

Re: New York Pension and Annuity Income Exclusion

FangxiaL — Fri, 25 Feb 2022 05:01:56 GMT

Make sure to select the first choice when you entered the 1099-R form into TurboTax, on the screen that says Where is your distribution from?

See the screen below:

Re: New York Pension and Annuity Income Exclusion

melpaw57 — Sat, 26 Feb 2022 15:08:40 GMT

Fangxial:

Thank you for your response! On the screen you referred me to, I had inadvertently checked the "Other" box,

as I do have a Deferred Compensation plan, but this distribution was from my pension, not my Deferred Comp

plan. Once I checked the "Other Pensions" (or something similar) box, it appears that Turbo Tax is now calculating my New York State Tax correctly.

Thank you again.