Question

Is there a list of excludable retirement plans?

Forum|Forum|6 years ago
April 27, 2020
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TurboTax Premier Online

Employee

Can you provide some more details on what you are trying to exclude from tax and on what form or for what state?

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Transamerica Life Insurance Co. for North Carolina tax return

Yes, here is a summary of retirement plans not taxed in NC.

If the retiree had five or more years of service as of August 12, 1989, the following retirement plans are excluded from NC tax:

North Carolina Teachers’ and State Employees’ Retirement System
North Carolina Local Governmental Employees’ Retirement System
North Carolina Consolidated Judicial Retirement System
Federal Employees’ Retirement System
United States Civil Service Retirement System

In addition, Social Security and Railroad retirement is not taxed in NC.

Some military retirement is excluded:

Military retirement payments received by a retired member who served at least 20 years in the military or who was medically retired from the military.
Payments from the Survivor Benefit Plan to a beneficiary of a retired member who served at least 20 years in the military or who was medically retired from the military

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