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Pension exclusion on Form IT-201, line 29

A pension exclusion will calculate on Form IT-201, line 29 if:
  • You've entered an amount on line 9 or 10 that wasn't from a NYS or local government pension plan or federal government pension plan.
  • The taxpayer was aged 59 1/2 before January 1 of the current year.
The amount of the exclusion is the qualifying pension and annuity income included in your Federal AGI, but not more than $20,000.

Data entry

Enter the pension information on the federal
1099R
 screen in the
Retirement
 folder. Don't enter a code in
State use
. A code here denotes federal or state government plans, which don't qualify for an exclusion.
If the taxpayer or spouse reached age 59 1/2 during the current tax year, only enter the amount they received after they reached age 59 1/2, but no more than $20,000. Use the
Pension exclusion: Taxpayer (Force)
 or
Spouse (Force)
 on the
NYAdj
 screen in the
Income & Adjustments
 folder.
If W2 income qualifies for the government pension exclusion, enter a
State use
 code
15
 on the federal
W2
 screen in the
Income
 folder. You may need to split the NY income into separate lines so that you can indicate only the income in Box 11 qualifies for the exclusion.
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