SC question?

[DixieEA]

I have a SC resident who is receiving IRA distribution. Taxpayer is disabled and the IRA
is coded for disability. Is the taxpayer eligible to subtract out this income on SC
as a qualified retirement subtraction?

Thanks, DixieEA

[dyne]

Yes, the entire IRA distribution is entered on SC1040, page 2, line 38 and deducted
from the return.
If it was NOT coded 3 for disability, for taxpayers LESS than 65 years of age, there is
a deduction of $3,000 on line 48. For taxpayers age 65 and older there is a deduction
on line 49 GENERALLY for $15,000. (always has to be complications).

[DixieEA]

thanks

Thanks Dyne, I did not know if IRAs were included. This board is very helpful!

DixieEA

[ChEAr$]

Dyne, are you perchance in SC?

[dyne]

Yes, 11 miles south of Carowinds and a few miles south of the state line and Charlotte,
N. C.

[Snaggletooth]

Yes absolutely

Dyne, are you perchance in SC?

Harlan, Dyne is in fact a preparer who straddles the state line, as is yourself.

He is a grizzled veteran of the IRS I believe. You might interest him in going to the joint NC/SC convention for EAs in Wilmington this spring.

[dyne]

I went to Wilmington many years ago and vowed I would never go again because it is
SO far away from me. That trip wore me out.