Turbo Tax is treating my New York State Retirement income as taxable in New York. Both SS and and my pension are exempt from NYS taxes
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The forms for NYS are not yet finalized and therefore this could be the reason. The IRS, along with States for the most part, are not beginning to accept returns for processing until February 12th. Most States have "stated" that they have not yet finalized all forms required for filing.
I looked at the list of forms not yet finalized for NYS. The issue seems to be on the NY subtractions on page 2 of IT-201, which is final. After reviewing our 2019 return using TurboTax and the actual forms for both 2019 and 2020, I believe there is an actual bug. I'm not a programmer (except for COBOL decades ago - LOL), but it should be easy to check.
I manually entered the correct information on the actual form and it appears to have worked as expected
I'm willing to wait until more forms are updated next week to see if it works correctly on TurboTax by itself
its mid march and i'm still having this problem (myself). any suggestions?
TurboTax identified this issue and has updated the software. You’ll need to sign in to your TurboTax account and review your retirement income, as the NY Pension Exclusion entries may have changed. If your pensions are fully exempt, please follow these steps and make sure all the required fields are completed:
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