Question

In state of California, if I’m receiving a pension, do i have to do the California adjustment? Where do you get the numbers?

Forum|Forum|7 years ago
June 6, 2019
1 reply
0 views

I just finished my TurboTax for the feds, but I can’t see the amounts needed to put in my California return

TurboTax Deluxe Online

C

CherylW

Employee

These are the reasons you would adjust your CA pension:

you received a distribution from a Canadian Registered Retirement Savings Plan (RRSP). California treats a RRSP similar to a savings account. Therefore contributions and previously taxed earnings are not taxable in California and results in a subtraction.
you contributed to an IRA account in the years 1982 - 1986. The maximum contribution deduction was different between California and federal so you may have a California "cost" (contributions not deducted) to recover before it begins to be taxable, or
you began receiving a pension between 7/1/86 and 1/1/87, you elected to use the 3-year rule for California purposes, and you used the annuity rules for federal purposes. If you began receiving your pension between 7/1/86 and 1/1/87, enter the amount you excluded from your federal income as an addition.

If none of the above apply to you, then Federal and CA are the same, and you don't need numbers to make an adjustment.

L

LCGAuthor

I read what you wrote and I receive a California pension and live in California so this definitely applies to me. But TurboTax does not tell me what to do to figure this out so the state form on TurboTax is useless for me and while I appreciate your response, you didn’t give me instructions either. If I don’t get instructions from the online TurboTax, I have to go find an accountant or pay $60 more to speak to a TurboTax person.
Last year I could speak to a person if I bought Premier Turbotax, which I did. This year Premier TurboTax doesn’t allow that.