Direct answer
It depends on your age, as New York provides a pension and annuity income exclusion of up to $20,000 for individuals aged 59 1/2 or older.
New York State Department of Taxation and Finance guidance on pension and annuity exclusions. For additional information about specific pension and annuity income exclusions, see the New York State Department of Taxation and Finance‘s official tax guidance.
What this means for you
It depends on your age, as New York provides a pension and annuity income exclusion of up to $20,000 for individuals aged 59 1/2 or older.
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