NYS pension /annuity exclusion

[olanvinro]

Line 4b does not calculate correctly. The total pensions are more that $20,000, however Turbo Tax is showing an amount less than $20,000. How does Turbotax calculate this? This should be a $20,000 exclusion.

[JotikaT2]

I would recommend reviewing your input.

Go back to the Federal section of the program.

1. Select Income & Expenses
2. Select "IRA,401(k), Pension Plan Withdrawals (1099-R)
3. Select "Edit" under the appropriate 1099-R form
4. Proceed to answer through the screens until you see "Select Your State".  (You should see this after enter your details from the 1099-R, and the question asking if you are a public safety officer.

Make sure you have selected New York here in order to allow TurboTax to compute the exclusion calculation correctly as it applies to you.

[olanvinro]

I don't get a selection of states in no.4. This didn't help.

[AmyC]

NY does have a $20,000 exclusion but only on certain retirements.It does NOT apply to NY local government or federal pension plans. 

If your income is from pensions, IRAs and annuities, it should be calculating. If you should have the credit, please try the following:

• Don't use Internet Explorer.
• Clear cookies and cache, instructions on the links.
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• Sign in using a different browser.
• Sign in using a different device.

If you still don't have the right exclusion, please fill this form out for someone to call you.