If turbotax entered the gross pay of a retired louisiana teacher instead of the taxable amount of that gross amount and the return was accepted by louisiana what action should be taken now?
If turbotax entered the gross pay of a retired louisiana teacher instead of the taxable amount of that gross amount and the return was accepted by louisiana what action should be taken now?
A Teacher's Retirement system in Louisiana(TRSL) member's retirement benefit is exempt from Louisiana state income tax. However, the benefit is subject to federal income tax and can include both a tax-free amount and a taxable amount. Member contributions made to TRSL before July 1, 1988, were taxed (unsheltered) and are not subject to tax in retirement. However, member contributions made on and after that date were not taxed (sheltered) and become taxable in retirement.