Louisiana State Tax Return

[jasdlm]

Doing my first LA return (not by choice; parents of my best friend). She is retired from the State (1099R) and he is retired military. When I read the LA instructions (and other research material) it appears that both are exempt from LA tax. However, previous preparer, who is a LA preparer, didn't exclude either. Given that he does this all the time and this is my first, I figure I'm reading something incorrectly, but I can't figure out what.

Any help from those experienced with LA returns would be greatly appreciated.

[Donny]

Doing my first LA return (not by choice; parents of my best friend). She is retired from the State (1099R) and he is retired military. When I read the LA instructions (and other research material) it appears that both are exempt from LA tax. However, previous preparer, who is a LA preparer, didn't exclude either. Given that he does this all the time and this is my first, I figure I'm reading something incorrectly, but I can't figure out what.

Any help from those experienced with LA returns would be greatly appreciated.

state ret. is exempt, military--go to La Dept of Revenue, type in military retirement exempt in search at top of page, this is a specfic amt. and rules you can read about and proberly understand I don't know how to do a link here,

[Lynn EA USTCP in Louisiana]

state ret. is exempt, military--go to La Dept of Revenue, type in military retirement exempt in search at top of page, this is a specfic amt. and rules you can read about and proberly understand I don't know how to do a link here,

There are different rules for exempting retirement, depending on its source. But, federal retiree benefits, including railroad retirement, are fully exempt from LA state income tax. Also, state retirement benefits, state teachers benefits, municipal teachers benefits are also fully exempt from LA state income tax. Other retirement benefits, such as an IRA are exempt up to $6,000 for each taxpayer who receives the benefit, if the retiree is age 65 or older. Go to www.rev.state.la.us for more FAQs.

Lynn Jacobs, EA

Kenner, LA

[Cathy]

Doing my first LA return (not by choice; parents of my best friend). She is retired from the State (1099R) and he is retired military. When I read the LA instructions (and other research material) it appears that both are exempt from LA tax. However, previous preparer, who is a LA preparer, didn't exclude either. Given that he does this all the time and this is my first, I figure I'm reading something incorrectly, but I can't figure out what.

Any help from those experienced with LA returns would be greatly appreciated.

jasdlm,

Good job! You are correct that both of those retirement incomes are non-taxable for Louisiana residents. Go page 2, Schedule E and click on any of the lines you see for Line 4A....this will take you to the worksheet to enter the retirement benefits.

Also, another often overlooked item on the Louisiana return is the credit we take for "hurricane assessments" on our property insurance. Click on "Resident Info Sheet" at the bottom of the LA return. On line 20 you enter a 100% refundable credit on these assessments paid on property insurance policies such as homes, rental homes, camps, etc.

You can file amended returns for 2004 until 5-15-08 and have even more time, of course, for 2006.

Holler if we can help with any other questions! Again, good job! :)

[jasdlm]

Thank you so much, all of you! I am incredibly appreciative of all the help I receive on this Board.

I guess I'll amend 04, 05, and 06.

Thanks also for the heads up on the insurance issue.

[Donny]

Thank you so much, all of you! I am incredibly appreciative of all the help I receive on this Board.

I guess I'll amend 04, 05, and 06.

Thanks also for the heads up on the insurance issue.

If anyone knows the answers for La. it's Cathy, she has helped me several times,

[joelgilb]

jasdlm,

Good job! You are correct that both of those retirement incomes are non-taxable for Louisiana residents. Go page 2, Schedule E and click on any of the lines you see for Line 4A....this will take you to the worksheet to enter the retirement benefits.

Also, another often overlooked item on the Louisiana return is the credit we take for "hurricane assessments" on our property insurance. Click on "Resident Info Sheet" at the bottom of the LA return. On line 20 you enter a 100% refundable credit on these assessments paid on property insurance policies such as homes, rental homes, camps, etc.

You can file amended returns for 2004 until 5-15-08 and have even more time, of course, for 2006.

Holler if we can help with any other questions! Again, good job!

And how about the credit for the Hurricane Party supplies and Mardi Gras. lol

Oh hell lets just drink some Hurricanes!

Joel <----- married to a Cajun! (for real! and they do throw hurricane parties the rest of us evacuate, one way or the other)