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NCSS
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Is there a problem with North Carolina form D-400 for Bailey Settlement?

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Is there a problem with North Carolina form D-400 for Bailey Settlement?

@NCSS 

None that I have seen.

 

You didn't describe what you think is wrong.

 

One mistake that people make, is that when they enter their Bailey Settlement eligible 1099-R in the Federal section, they need to make sure that the follow-up page (where they selected the Bailey Settlement), that the NC distribution amount is filled in with ether the box 2a value...or if box 2a was empty...usually the box 1 value.

That NC distribution amount entered on that page is the $$ amount that is subtracted form NC income once the Bailey Settlement button is selected.

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1099R_NorCar_2021_xDesktop.png

 

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

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