Montana Pension and Annuity Exemption
What if the income exemption code is a Q (Qualified distribution from a Roth IRA) or a T (Roth IRA distribution, exception applies) in box 7?
What if the income exemption code is a Q (Qualified distribution from a Roth IRA) or a T (Roth IRA distribution, exception applies) in box 7?
If you have IRA distributions with federal early payout penalties, you can't qualify for the Partial Pension and Annuity Income Exemption. If you have Box 7 Code Q or T and you reached age 59½, the participant died, or the participant is disabled, you qualify for the exemption.
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