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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
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Maine Pension Income Deduction
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JD Mason
Level 1
02-23-2024
01:13 PM
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Is the information for the Maine Pension income deduction supposed to flow over from the entry of the 1099-R or is manually entered in the State return? One would think that it should flow over seamlessly, as long as it is eligible, but I am not finding this to be the case.
Any insight is greatly appreciated.
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Skylane
Level 11
02-23-2024
02:02 PM
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Maine does not tax military pensions. On the 1099R worksheet there is a State use code cell... I don't do Maine returns but in NJ, using code M will prohibit the military pension from transferring to the State return as taxable. Otherwise, you can probably drill down on the pension income line to a worksheet that will let you exclude it.
If at first you don’t succeed…..find a workaround
