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Returning Member
posted Feb 4, 2023 1:23:40 PM

Fed jumps way up when i enter my NYS exempt pension

I need some help. When i enter my NYS retirement (exempt from NY Tax) my Fed return has me owing a ton.

I have paid several thousand dollars into Fed tax and i Still owe? i cant put anything in boxes 14-16 on turbo tax. It requires numbers but my 1099-R has box 14=EXEMPT followed by box15= payers id box 16= NY how do i fill this out?Thanks

Tom

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1 Replies
Expert Alumni
Feb 6, 2023 10:51:30 AM

You might still owe Federal Tax if you didn't have enough taxes withheld based on your income and your filing status. 

 You can leave Box 14-16 empty when inputting your pension into TurboTax.