Fedral Pensions

Forum|Forum|5 years ago
February 21, 2021
1 reply
4 views

Oregon allows a deduction for Federal Pension payments earned prior to October 1, 1991. The statute is ORS 316.680(1)(e) and the instructions for taking it are found on page 67-68 of the Department of Revenue 2020 Income Tax Instructions 105-101-431 (Rev 02-12-21). There is a worksheet in these instruction that I've completed in prior years and it has passed the calculation on from year to year from prior returns (it is a percentage of the pension payment that remains unchanged from year to year). Why is Turbo Tax not showing that subtraction? How do I get it on my return?

Best answer by JohnW152

Try deleting and re-entering your federal 1099-R. There may have been an incorrect input the first time through.

Open (continue) your return if you don't already have it open.
Inside TurboTax, search for 1099-r and select the Jump to 1099-r link in the search results.
This will take you to the Your 1099-R Entries screen.
Select Delete next to the unwanted 1099-R and then answer Yes on the following screen.

Oregon federal retirees and beneficiaries are allowed to subtract taxable payments based on their months of federal service

JohnW152Answer

Level 15

Try deleting and re-entering your federal 1099-R. There may have been an incorrect input the first time through.

Open (continue) your return if you don't already have it open.
Inside TurboTax, search for 1099-r and select the Jump to 1099-r link in the search results.
This will take you to the Your 1099-R Entries screen.
Select Delete next to the unwanted 1099-R and then answer Yes on the following screen.