Flaw in program for MD Sate Taxes?????

Forum|Forum|3 years ago
April 3, 2023
1 reply
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I did my taxes including Maryland. Md does not tax up to $34300 in pensions for those over 65 but the program taxed mine as income. IS there a FLAW???

TurboTax Home & Biz Windows

Best answer by AmyC

No. You need to follow the worksheet. MD does have a pension exclusion computation for up to $34,300. However, the actual form shows social security subtracted from the $34,300 and then the lesser of that amount or your pension for the exclusion. The updated 2022 Maryland Pension Exclusion has more information along with a link to the worksheet, Pension Exclusion Computation Worksheet

AmyCAnswer

Employee

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cynthiamitchellyahoo

I have entered my retirement income as reported on CSA 1099R and expected to benefit from the Maryland Retirement exclusion but turbo tax is not applying the exclusion. I am over 65 years of age and as a federal government retiree, I have no social security income.

ErnieS0

TurboTax does apply the exclusion. Your pension exclusion is listed as a subtraction on Form 502, line 10 if you are a Maryland resident.

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