Montana Pension and Annuity Exemption

CFB31 · ‎February 14, 2022

What if the income exemption code is a Q (Qualified distribution from a Roth IRA) or a T (Roth IRA distribution, exception applies) in box 7?

MaryK4 · ‎February 14, 2022

If you have IRA distributions with federal early payout penalties, you can't qualify for the Partial Pension and Annuity Income Exemption. If you have Box 7 Code Q or T and you reached age 59½, the participant died, or the participant is disabled, you qualify for the exemption.

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View solution in original post

MaryK4 · ‎February 14, 2022

If you have IRA distributions with federal early payout penalties, you can't qualify for the Partial Pension and Annuity Income Exemption. If you have Box 7 Code Q or T and you reached age 59½, the participant died, or the participant is disabled, you qualify for the exemption.

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**Mark the post that answers your question by clicking on "Mark as Best Answer"

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Montana Pension and Annuity Exemption