Julie0031
Level 1
‎02-12-2025 04:50 PM

NYS - My client is a 20 percent beneficiary of an inherited IRA and therefore limited to a NYS pension exclusion of $4,000 (out of the $20,000).   How do I apply the limitation to the pension exclusion?  I tried going to the pension and annuity worksheet and putting the 20 percent, but it doesn't work. Thank you.

0 Cheers
Reply
Skylane
Level 11
Level 11
‎02-12-2025 11:10 PM

Complete the pension/annuitie ira worksheet part 1. 

You have to fill out the section asking;

Decedents DOB,   Decendents total pens..,   exclusion claimed on decedents return, 

Beneficiaries % share of dist

 

It calculates properly and will select the IT 201 line 9 checkbox.   

If at first you don’t succeed…..find a workaround
Reply