Pensions from New York state and local governments are entered in the Federal Q&A in the Retirement Plan Income section. This would also be reported on Line 10 of Form IT-201. Exclusions of these pensions from New York income are reported on Line 26 of Form IT-201.
Unlike the regular Pension and Annuity Income Exclusion, the exclusion of pensions from the Federal government or New York State and/or local governments are NOT limited to $20,000. You may take the exclusion up to the amount the pension or other distribution was included in your Federal Adjusted Gross Income (AGI).
The exclusion amount is entered in the State Q&A on the screen titled New York - Government Pension
- From within your TaxAct® return (Online or Desktop), click on the State tab
- Click New York directly below the Basic Info tab
- Click Government Pension/Retirement Exclusion
- In the field titled Government Pension Income, enter the portion of your total Federal pension and annuity income that was received from the Federal government or New York state and/or local governments.
This is the amount that will flow to the Pension Exclusion Worksheet and then to Line 26 of the New York Form IT-201.
Click on the State Form Instructions on the right side of the screen if you need additional information regarding the pension exclusion.