Financial aid, New York State Tuition Assistance Program: What is private pension and annuity income?

I recently received a message from HESC that said:

The New York State Higher Education Services Corporation (HESC)

has processed your application for the Tuition Assistance Program

(TAP) and/or New York State scholarships. Effective with the 2010-11

academic year, any private pension and annuity income excluded on your

or your parent's New York State tax return will be included in

Taxable New York State Income for the purpose of determining TAP

award eligibility.

If you, your spouse (if applicable) and your parents DID NOT have a

private pension and annuity income exclusion in 2009, no action is

necessary.

How do I confirm that this is not necessary in my case... Or find the form to send in if it is?

2 Answers

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  • 1 decade ago
    Favorite Answer

    Look at your parent's tax return at lines 16a and 16b. Line 16a shows the total amount of pension or annuity funds received and line 16b shows the taxable amount. If you have numbers on those lines, and they are different, then you might have non-taxable pension and annuity income to report. But, the HESC only asks about private pensions, so you still might not have to report non-taxable pension or annuity income if it comes from a public source. Generally, pensions from military and government employees are considered to be public pensions. Pensions from corporations are considered private.

    Source(s): Enrolled Agent, job experience.
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