The $20,000 New York pension exclusion was not applied in 2024 has it was in previous years. Why not?

Forum|Forum|1 year ago
February 5, 2025
1 reply
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1099-R forms for 2023 and 2024 were the same, but the $20,000 new york exclusion was not applied

SteamTrain

Employee

The only thing I can think of, is you may not have entered the state distribution amount in box 16 of the 1099-R forms (even if empty on your paper/PDF 1099-R forms). You can't get a deduction for NY state retirement income not reported in box 16.

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@Opus 17 Other thoughts?

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

jholihan34Author

Box 16 is already filled with the New York State distribution amount. That's why I think you have a bug in the 2024 version. I checked and my 2023 1099-R form was identical to 2024 entry. Any other ideas?

SteamTrain

Employee

You'd have to look at the various actual NY forms to make sure it wasn't applied. Could be it's there and you don't realize it??? (probably not, just wild guessing)

Other than that....maybe Customer Support can figure it out:

How do I contact TurboTax?

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*