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Maryland excludes up to 29000 of pension income from state taxes. How do I identify pension income that may be excluded from MD income tax?

Forum|Forum|7 years ago
June 4, 2019
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Maryland excludes up to 29000 of pension income from state taxes. There was no way to indicate this when I entered the 1099-R. Where do I do this in Turbotax Permier?

TurboTax Premier Windows

Best answer by dmertz

In preparing your MD tax return, TurboTax goes by the fact that the Form 1099-R has code 7 and not code D in box 7 and does not have the IRA/SEP/SIMPLE box marked.

Note that your exclusion amount is $30,600 minus whatever amount of Social Security income you received. If you received $30,600 or more of Social Security income, you receive no pension exclusion. ($29,900 was the maximum pension exclusion for 2017.)

D

dmertzAnswer

Employee

In preparing your MD tax return, TurboTax goes by the fact that the Form 1099-R has code 7 and not code D in box 7 and does not have the IRA/SEP/SIMPLE box marked.

Note that your exclusion amount is $30,600 minus whatever amount of Social Security income you received. If you received $30,600 or more of Social Security income, you receive no pension exclusion. ($29,900 was the maximum pension exclusion for 2017.)