All of the following statements regarding the subtraction of pension distributions from New York state and local governments on the New York return are true EXCEPT:

To be eligible for this subtraction, the distribution must have been included in federal AGI.

The subtraction is reported on Form IT-201 or IT-203.

Those eligible for the subtraction include federal, state, and local employees who receive a pension distribution.

The subtraction is worth up to $30,000 for a joint return ($15,000 for all other filing statuses.)