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Client retired from CA in 2018. They are a current resident of MS. MS doesn't tax retirement. 1099-R has code 2. Is this considered to be taxable income?

j3fs
Level 1
I checked "Yes" on Form 80-107 to not include as income but it is still being taxed. How do I override?
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Just-Lisa-Now-
Level 15
Level 15

Code 2 is an early withdrawal.
MS taxes early withdrawals.

They may want to contact the issuer for a corrected copy if its not really an early withdrawal.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

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2 Comments 2
Just-Lisa-Now-
Level 15
Level 15

Code 2 is an early withdrawal.
MS taxes early withdrawals.

They may want to contact the issuer for a corrected copy if its not really an early withdrawal.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
j3fs
Level 1

Thank you for the quick response Lisa.  Greatly appreciate it.  I'm in agreement.