Skip to main content
TurboTax
Community
TurboTax
Community
TurboTax
Community
B
billiecrawford-m
April 15, 2024
Question

I qualify for NC pension distribution (no state tax) under the Bailey settlement, as this apples to federal or NC pensions, how is it denoted on the federal form?

  • April 15, 2024
  • 1 reply
  • 0 views
The state return referred to claiming a deduction under miscellaneous on the federal form to achieve repayment of right income. Can I get a clearer explanation?

1 reply

DaveF1006
DaveF1006
April 16, 2024

It is reported in the following manner.
 

1.  Federal 

2.  Wages and income

3   Retirement Plans and Social Security

3.  IRA, 401K, pensions" section

4.  Click on Edit/Add

5.  Enter your 1099R

6.  Be sure "NC" is in the "state ID box as well as a state

7.  Answer the next question stating this isn't an IRA 

8. The next screen is where you would enter that this is a Bailey Settlement. See screenshot.

 

The information entered in the federal return will automatically populate to your North Carolina State return.

 

 


 

 

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"
TurboTax Sign In Widget
TurboTax flag icon

Unlock tailored help options in your account

Create an account
TurboTax Expert Assist
TurboTax Expert

Get answers to all your tax questions

Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Expert Assist.

Terms & ConditionsAccessibility statement
Intuit
TurboTax Credit Karma QuickBooks MailChimp

©1997-2022 Intuit, Inc. All rights reserved.
Intuit, QuickBooks, QB, TurboTax, ProConnect, and Mint are registered trademarks
of Intuit Inc. Terms and conditions, features, support, pricing, and service options
subject to change without notice.

Security Certification of the TurboTax Online application has been performed by
C-Level Security.

By accessing and using this page you agree to the Terms of Use.

Accessibility

TRUSTe nResult Certified e-File C-Level Security Certification