Does the delux Turbo tax program take into consideration that I am a retired military person?
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Maybe. The 2022 Delaware program has not been updated for the change that allows retired members of the military to claim a $12,500 pension exclusion regardless of age.
If you are age 60 or over, TurboTax will correctly exclude up to $12,500 of your pension income. If you are under 60, TurboTax will give you the previous $2,000 deduction.
Delaware says:
IF YOU WERE UNDER 60 on December 31, 2022 and retired from the United States military and received pension income during the year, your exclusion equals $12,500 or the amount of your pension, whichever is less.
As @SundayInSalem stated and provided an excellent link for, the new DE exclusion for military retirement pay for those under age 60 begins with tax year 2022. Click here for the forms availability link in TurboTax. DE forms are expected to be available 1/26/2023.
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