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Old 08-19-2013, 12:42 PM
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1099-r

Just trying to find out if, in Missouri, a distribution from 1099-R is supposed subject to state taxes.



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Old 08-20-2013, 10:33 AM
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Missouri resident taxpayers are allowed a state income tax deduction for Social Security benefits received by individuals 62 years of age or older, Social Security disability benefits, and non-private retirement system benefits received by individuals 62 years of age or older, to the extent these benefits are included in federal AGI. To view the Social Security/Social Security Disability deduction chart and the public pension exemption eligibility chart, visit the website; What's New?
Public Pension Exemption: Married couples with Missouri AGI less than $100K and single individuals with Missouri adjusted gross income less than $85K, may deduct up to 65 percent of their public retirement benefits, to the extent the amounts are included in their federal AGI. The deductible percentage of their public retirement benefits will increase until 2012. A breakdown of the yearly percentage is as follows: Generally, the maximum amount of benefits that can be deducted is as follows: 100% for 2012 and thereafter. The total public pension exemption is limited to $33,703 for each spouse. Married couples with Missouri adjusted gross income greater than $100K and single individuals with Missouri adjusted gross income greater than $85K, may qualify for a partial exemption. Taxpayers who also qualify for the Social Security or Social Security Disability Deduction, must reduce their public pension exemption by the amount of the social Security or social Security disability Deduction.please contact the MO Dpt of Treasury; Taxes - Contact Treasury



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