What is eligible military retirement pay for the Maine Pension Income Deduction?
Benefits received under a military retirement plan, including survivor benefits, are eligible for the Pension Income Deduction if received as a result of service in the United States Army, Navy, Air Force, Marines, Coast Guard, or Space Force.
This pay is usually reported on Form 1099-R, Box 1. Generally, all military retirement pay you receive qualifies for the deduction. Veterans' disability benefits paid by the VA are not taxable income and therefore do not count as military retirement pay nor are they eligible for this deduction.
This pay is usually reported on Form 1099-R, Box 1. Generally, all military retirement pay you receive qualifies for the deduction. Veterans' disability benefits paid by the VA are not taxable income and therefore do not count as military retirement pay nor are they eligible for this deduction.
