My Software Ultra Tax is Great.
Issue:
Mississippi pension, taxpayer over 59.5, code 7 normal distribution.
I briefly reviewed the instructions and it sounds like it is exempt.
My software makes me hard code the 1099 R at the input level to say it is exempt at the Mississippi level.
Is there any time when this would be taxable? If not, do other software vendors have the default as being exempt under the circumstances above?
What are the pitfalls of having the system default it to exempt?
Mahalo to the Mississippi experts.
Bjorn
Issue:
Mississippi pension, taxpayer over 59.5, code 7 normal distribution.
I briefly reviewed the instructions and it sounds like it is exempt.
My software makes me hard code the 1099 R at the input level to say it is exempt at the Mississippi level.
Is there any time when this would be taxable? If not, do other software vendors have the default as being exempt under the circumstances above?
What are the pitfalls of having the system default it to exempt?
Mahalo to the Mississippi experts.
Bjorn
Comment