If you received a pension payment from New York State, local government, the federal government (including SS benefits) or from certain public authorities, it is not taxable in New York.
In addition, income from pension plans described in section 114 of Title 4 of the U.S. code received while you are a nonresident of New York State is not taxable to New York.
If your pension IS taxable in NY, but were 59½ before January 1, 2023, you may qualify for a pension/annuity exclusion of up to $20,000. If you became 59½ during 2023, you can only exclude up to $20,000 of the pension income you received after turning 59½. This only applies to pensions that are included in your recomputed federal adjusted gross income.
To make this adjustment in the TaxSlayer ProWeb program, from the main menu of the New York State return select;
- Subtractions from Income
- Certain Pension Income Is Excluded From New York Taxable Income
Additional Information:
New York State Tax Information
Publication 36, General Information for Senior Citizens and Retired Persons.