Distribution to a Beneficiary in NYS

[nypreparer]

A taxpayer's mother passed away last year, and the three siblings were beneficiaries on her pension. Because the mother was over 59 1/2, the children can exclude $20k from their NYS income, correct?

[New York Enrolled Agent]

A taxpayer's mother passed away last year, and the three siblings were beneficiaries on her pension. Because the mother was over 59 1/2, the children can exclude $20k from their NYS income, correct?

There is only one $20,000 exclusion available. Assuming equal distribution, each beneficiary can exclude $6,667 on their individual IT-201.