DISABILITY PENSION
TAXPAYER RETIRED EARLY ON DISABILITY, IS ENTIRE AMOUNT TAXABLE?
1
37
cKLbhwoTer4izzacwZ5xHE
02/17/11 12:09pm PST
Viewed by asker 02/17/11 2:04pm PST
Viewed by asker 02/17/11 2:04pm PST
4 Replies
LeAnnHenry
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Questions answered: 1134
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Accountant Community AllStar
Advisory council of Accountant community power users.
02/17/11 12:17pm PST
Are the numbers in box 1 and 2 equal on the 1099R? The pension administrator should know if anything should not be taxed. Original contributions made by the taxpayer- which after a calculation a portion (usually a small portion) could not be taxed.
Is there a 3 for the distribution code in box 7?
Is the taxpayer receiving Social Security also? Some of that could be tax free.
IRMN
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Questions answered: 16303
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Accountant Community AllStar
Advisory council of Accountant community power users.
Intuit Moderator
Mod/Co-mod
02/17/11 12:17pm PST
I'm thinking we are a little light on facts here to give an accurate answer.
If this answers your question please click, um, ok I forgot what you are supposed to click. If this answered your question, how about just saying thanks and we will call it good.
Mt Juliet CPA
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Questions answered: 13754
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Accountant Community AllStar
Advisory council of Accountant community power users.
02/17/11 12:20pm PST
There is not enough information furnished to help answer you question
I salute all our current Military and our Veterans.
essjay
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Questions answered: 6129
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Allstar
Advisory council of community power users.
02/17/11 5:56pm PST
Latest post
Certain Police or firefighter disability pensions are tax-free; most others are not, but that depends on basis as has been stated...come back with more details
"Anyone may arrange his affairs so that his taxes shall be as low as possible; he is not bound to choose that rnethod which best pays the treasury..." Judge Learned Hand - U S Court of Appeals
