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January 25, 2025
Question

1099-R NC VESTED AS OF 8/12/1989. DISTRIBUTION MADE FROM PENSION. DISABILITY BENEFITS NON TAXABLE IN NC.

  • January 25, 2025
  • 1 reply
  • 0 views

MY INCOME COMES FROM A DISABILITY PENSION FROM FAULKENBURG SETTLEMENT OR  NC TEACHERS' STATE EMPLOYEES' RETIREMENT SYSTEM.  THE INCOME IS TAXED BY FEDERALGOV'T BUT NOT NC STATE GOV'T.  THE SOURCE THAT I SEE ON TURBOTAX IS BAILEY SETTLEMENT UNDER SOURCE FOR PERSONAL INCOME.  IS IT NOW BAILEY INSTEAD OF FAULKENBURG.   THERE USE TO BE A BOX FOR FAULKENBURG SETTLEMENT.  WHAT HAPPENED?  HAS IT BEEN ROLLED OVER INTO BAILEY?  MY 1099-R HAS "NC VESTED AS OF 08/12/1989"  TYPED ON IT. 

    1 reply

    AmyC
    Employee
    January 28, 2025

    The Bailey update sounds like you are covered under it. There is nothing under Adjustments that describes your situation other than Bailey.

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