If you received a decedent’s pension and annuity income, you may make this subtraction if the decedent would have been entitled to it, had the decedent continued to live, regardless of your age. If the decedent would have become 59½ during 2022, enter only the amount received after the decedent would have become 59½, but not more than $20,000.
If any portion of this exclusion was subtracted on the decedent’s personal income tax return, you must first reduce the amount you are eligible to claim by the same amount subtracted on the decedent’s return. The total pension and annuity income exclusion claimed by the decedent and the decedent’s beneficiaries cannot exceed $20,000.
If the decedent has more than one beneficiary, the decedent’s $20,000 pension and annuity income exclusion must be allocated among the beneficiaries. Each beneficiary’s share of the $20,000 exclusion is determined by multiplying $20,000 by a fraction whose numerator is the value of the pensions and annuities inherited by the beneficiary, and whose denominator is the total value inherited by all beneficiaries of the decedent’s pensions and annuities.
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