dchannam
Level 3
04-02-2021
04:36 PM
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Yes, you are correct, I wasn't clear in my description.
2020 - $30,000 applies to FAGI and 10% Penalty
- 33,333 applies to FAGI for 2020
- 63,333 applies to FAGI for 2020, and 33,333 each for 2021, 2022
I'm looking to confirm if the 2020 FAGI of $63,333 can be excluded from NYSAGI as Pensions of the US Government on line 26 of IT-201 as a New York State resident.
Normal distributions are qualified for the exemption as stated in TSB-A-15(6)I.
Thanks for taking time to reply and take interest.