How can I claim the military exclusion on form 502 for a disabled vet that retired in MD as of 08/01/2020?
I cannot seem to get Proseries basic to calculate it.
The MD Resident handbook states the following:
u. Up to $5,000 of military retirement income, including death benefits, received by a qualifying individual during the tax year if the taxpayer has not yet attained the age of 55;To qualify, you must have been a member of an active or reserve component of the armed forces of the United States, an active duty member of the commissioned corps of the Public Health Service, the National Oceanic and Atmospheric Administration, the Coast and Geodetic Survey, a member of the Maryland National Guard, or the member’s surviving spouse or ex-spouse.
This discussion has been locked. No new contributions can be made. You may start a new discussion here
On Federal 1099-R worksheet enter "M" in state use code box. It will carry over to the 502.
You have clicked a link to a site outside of the Intuit Accountants Community. By clicking "Continue", you will leave the community and be taken to that site instead.