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How do I input NYS pension exclusion for inherited IRA with multiple beneficiaries?

Julie0031
Level 1

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.

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1 Comment 1
Skylane
Level 11
Level 11

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
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