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I don't know what category my pension plan with dairy industry is under for pa tax filing

Forum|Forum|7 years ago
June 6, 2019
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TurboTax Deluxe Online

Best answer by BillM223

If your plan is considered eligible for exclusion in Pennsylvania, then you just call it "plan's eligible" (see below). But only your plan administrator can determine that (TurboTax cannot).

You should contact your plan administrator and confirm that your plan is considered eligible in Pennsylvania (see the link below from the "the Pennsylvania Institute of Certified Public Accountants" that describes eligible plans).

When you get to the right place in the Pennsylvania interview, at the box entitled "State Type Code", pull down the menu.

Choose "I'm eligible; plan's eligible (no PA tax)" if the following applies:

You are eligible if you were eligible to retire under your plan's rules (as opposed to early).
The plan is eligible if it meets Pennsylvania rules. See this article from the Pennsylvania Institute of Certified Public Accountants about eligible plans in Pennsylvania.

B

BillM223Answer

If your plan is considered eligible for exclusion in Pennsylvania, then you just call it "plan's eligible" (see below). But only your plan administrator can determine that (TurboTax cannot).

You should contact your plan administrator and confirm that your plan is considered eligible in Pennsylvania (see the link below from the "the Pennsylvania Institute of Certified Public Accountants" that describes eligible plans).

When you get to the right place in the Pennsylvania interview, at the box entitled "State Type Code", pull down the menu.

Choose "I'm eligible; plan's eligible (no PA tax)" if the following applies:

You are eligible if you were eligible to retire under your plan's rules (as opposed to early).
The plan is eligible if it meets Pennsylvania rules. See this article from the Pennsylvania Institute of Certified Public Accountants about eligible plans in Pennsylvania.

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R

re2boys

Employee

Retirement in PA:

During the PA interview, you will be asked what type of retirement plan distribution is represented by each 1099R.

If box 7 on the 1099R is coded 4 or 7, it is not taxable. If it coded with an "D" such as 1D or 4D or 7D, it is from a commercial annuity and is taxable same as federal.

If it coded a 1 or 2 it is an early distribution and is taxable to the extent it exceeds your basis in the plan. Your basis in the plan is the sum of all contributions you made over the years less all previous distributions from the plan. You may need to ask the plan administrator for this information.