In 1099-R distributions, Code 7 is NOT taxable in the State of Hawaii and Code 1 is. Anyone run into this?
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Except from the N-15 instructions.
Hawaii does not tax qualifying distributions from an employer-funded pension plan.
If you received qualifying distributions from an employer-funded profit sharing, defined
contribution, or defined benefit plan, or from a government retirement system (e.g., federal
civil service, military pension, state or county retirement system), enter the qualifying
amount here.
Early Distributions
Early distributions from a pension plan that are subject to the 10% federal penalty tax do not qualify and are taxable.
Except from the N-15 instructions.
Hawaii does not tax qualifying distributions from an employer-funded pension plan.
If you received qualifying distributions from an employer-funded profit sharing, defined
contribution, or defined benefit plan, or from a government retirement system (e.g., federal
civil service, military pension, state or county retirement system), enter the qualifying
amount here.
Early Distributions
Early distributions from a pension plan that are subject to the 10% federal penalty tax do not qualify and are taxable.
Then that must be the same for the N-11 Resident Tax Form. Thank you!!
Correct. I was actually looking at the N-11 Resident instructions. My mistake.
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