Retirement income and wages ?

#4 12-26-2007, 12:06 AM

On Dec 25, 5:51Â*pm, Herb Smith <smithf...[at]aol.com> wrote:
- quote -

> On Dec 25, 12:39Â*pm, "John H. Fisher" <TaxServ...[at]aol.com> wrote:
> > On Dec 24, 4:32ï¿½pm, Mark Bole <ma...[at]pacbell.net> wrote:
> > > DonL wrote:
> > > > Can my brother use the Tax form EZ for his federal taxes even though he
> > > > has some retirement income?
> > > > He was going to add the retirement from his 1099R to his wages and just
> > > > show the total on the line that says "Wages".
> > > He can't use 1040EZ, but he can ï¿½use 1040A, the next simplest one. ï¿½It
> > > is strongly advised to NOT add the 1099-R amount to W-2 amounts, a
> > > letter from the IRS will most likely ensue.
> > > -Mark Bole
> > > --
> > > << ------------------------------------------------------- > > > > << The foregoing was not intended or written to be used, ï¿½ > > > > << nor can it used, for the purpose of avoiding penalties ï¿½> > > > << that may be imposed upon the taxpayer. ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½> > > > << ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ > > > > << ï¿½ The Charter and the Guidelines for submitting posts ï¿½ > > > > << ï¿½to this newsgroup as well as our anti-spamming policy ï¿½> > > > << ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½are atwww.asktax.org. ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ > > > > << ï¿½ ï¿½ ï¿½ ï¿½ Copyright (2007) - All rights reserved. ï¿½ ï¿½ ï¿½ ï¿½ > > > > << ------------------------------------------------------- > > > BUT, depending on circumstances, it may be added as qualifying wages.
> > A disability pension is generally paid to a taxpayer who retires
> > because of a disability before the minimum retirement age (set by the
> > employer). The disability pension is treated as wages until the
> > taxpayer reaches minimum retirement age. From then on the disability
> > pension is treated as regular pension income.
> Jack, I agree with your quote, but pre-retirement disability pensions
> are usually reported as wages (i.e. W-2, box 1) not 1099R.
No they are normally reported on a 1099R with distribution box coded a

"3". Sometimes the code never gets changed after they reach normal
retirement age. I've seen the code "3" show well past nomal
retirement age.

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

#3 12-25-2007, 10:59 PM

In article <b4f180e3-a716-47b1-9ec6-81bf1e768094[at]e10g2000prf.googlegroups.com> ,
Herb Smith <smithff33[at]aol.com> wrote:
- quote -

> On Dec 25, 12:39Â*pm, "John H. Fisher" <TaxServ...[at]aol.com> wrote:
> > On Dec 24, 4:32ï¿½pm, Mark Bole <ma...[at]pacbell.net> wrote:
> > > > DonL wrote:
> > > > Can my brother use the Tax form EZ for his federal taxes even though he
> > > > has some retirement income?
> > > > > He was going to add the retirement from his 1099R to his wages and just
> > > > show the total on the line that says "Wages".
> > > > He can't use 1040EZ, but he can ï¿½use 1040A, the next simplest one. ï¿½It
> > > is strongly advised to NOT add the 1099-R amount to W-2 amounts, a
> > > letter from the IRS will most likely ensue.
> > > > -Mark Bole
> > > > BUT, depending on circumstances, it may be added as qualifying wages.
> > > A disability pension is generally paid to a taxpayer who retires
> > because of a disability before the minimum retirement age (set by the
> > employer). The disability pension is treated as wages until the
> > taxpayer reaches minimum retirement age. From then on the disability
> > pension is treated as regular pension income.
> Jack, I agree with your quote, but pre-retirement disability pensions
> are usually reported as wages (i.e. W-2, box 1) not 1099R.

When the State of Ohio is the employer, I can assure you their
disability pensions are reported on a 1099.

--

ArtKamlet at a o l dot c o m Columbus OH K2PZH

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

#2 12-25-2007, 09:51 PM

On Dec 25, 12:39Â*pm, "John H. Fisher" <TaxServ...[at]aol.com> wrote:
- quote -

> On Dec 24, 4:32ï¿½pm, Mark Bole <ma...[at]pacbell.net> wrote:
> > DonL wrote:
> > > Can my brother use the Tax form EZ for his federal taxes even though he
> > > has some retirement income?
> > > He was going to add the retirement from his 1099R to his wages and just
> > > show the total on the line that says "Wages".
> > He can't use 1040EZ, but he can ï¿½use 1040A, the next simplest one. ï¿½It
> > is strongly advised to NOT add the 1099-R amount to W-2 amounts, a
> > letter from the IRS will most likely ensue.
> > -Mark Bole
> > --
> > << ------------------------------------------------------- > > > << The foregoing was not intended or written to be used, ï¿½ > > > << nor can it used, for the purpose of avoiding penalties ï¿½> > > << that may be imposed upon the taxpayer. ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½> > > << ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ > > > << ï¿½ The Charter and the Guidelines for submitting posts ï¿½ > > > << ï¿½to this newsgroup as well as our anti-spamming policy ï¿½> > > << ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½are atwww.asktax.org. ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ > > > << ï¿½ ï¿½ ï¿½ ï¿½ Copyright (2007) - All rights reserved. ï¿½ ï¿½ ï¿½ ï¿½ > > > << ------------------------------------------------------- > > BUT, depending on circumstances, it may be added as qualifying wages.
> A disability pension is generally paid to a taxpayer who retires
> because of a disability before the minimum retirement age (set by the
> employer). The disability pension is treated as wages until the
> taxpayer reaches minimum retirement age. From then on the disability
> pension is treated as regular pension income.

Jack, I agree with your quote, but pre-retirement disability pensions
are usually reported as wages (i.e. W-2, box 1) not 1099R.

- quote -

> << ------------------------------------------------------- > > << The foregoing was not intended or written to be used, Â* > > << nor can it used, for the purpose of avoiding penalties Â*> > << that may be imposed upon the taxpayer. Â* Â* Â* Â* Â* Â* Â* Â* Â*> > << Â* Â* Â* Â* Â* Â* Â* Â* Â* Â* Â* Â* Â* Â* Â* Â* Â* Â* Â* Â* Â* Â* Â* Â* Â* Â* Â* Â* > > << Â* The Charter and the Guidelines for submitting posts Â* > > << Â*to this newsgroup as well as our anti-spamming policy Â*> > << Â* Â* Â* Â* Â* Â* Â* Â* Â*are atwww.asktax.org. Â* Â* Â* Â* Â* Â* Â* Â* > > << Â* Â* Â* Â* Copyright (2007) - All rights reserved. Â* Â* Â* Â* > > << ------------------------------------------------------- > > - Hide quoted text -
> - Show quoted text -

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

#1 12-25-2007, 07:39 PM

On Dec 24, 4:32ï¿½pm, Mark Bole <ma...[at]pacbell.net> wrote:
- quote -

> DonL wrote:
> > Can my brother use the Tax form EZ for his federal taxes even though he
> > has some retirement income?
> > He was going to add the retirement from his 1099R to his wages and just
> > show the total on the line that says "Wages".
> He can't use 1040EZ, but he can ï¿½use 1040A, the next simplest one. ï¿½It
> is strongly advised to NOT add the 1099-R amount to W-2 amounts, a
> letter from the IRS will most likely ensue.
> -Mark Bole
> --
> << ------------------------------------------------------- > > << The foregoing was not intended or written to be used, ï¿½ > > << nor can it used, for the purpose of avoiding penalties ï¿½> > << that may be imposed upon the taxpayer. ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½> > << ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ > > << ï¿½ The Charter and the Guidelines for submitting posts ï¿½ > > << ï¿½to this newsgroup as well as our anti-spamming policy ï¿½> > << ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½are atwww.asktax.org. ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ ï¿½ > > << ï¿½ ï¿½ ï¿½ ï¿½ Copyright (2007) - All rights reserved. ï¿½ ï¿½ ï¿½ ï¿½ > > << ------------------------------------------------------- >
BUT, depending on circumstances, it may be added as qualifying wages.

A disability pension is generally paid to a taxpayer who retires
because of a disability before the minimum retirement age (set by the
employer). The disability pension is treated as wages until the
taxpayer reaches minimum retirement age. From then on the disability
pension is treated as regular pension income.

HAPPY HOLIDAYS!!!-

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

12-24-2007, 08:32 PM

DonL wrote:
- quote -

> Can my brother use the Tax form EZ for his federal taxes even though he
> has some retirement income?
> He was going to add the retirement from his 1099R to his wages and just
> show the total on the line that says "Wages".

He can't use 1040EZ, but he can use 1040A, the next simplest one. It
is strongly advised to NOT add the 1099-R amount to W-2 amounts, a
letter from the IRS will most likely ensue.

-Mark Bole

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

#-1 12-24-2007, 08:07 PM

Can my brother use the Tax form EZ for his federal taxes even though he
has some retirement income?

He was going to add the retirement from his 1099R to his wages and just
show the total on the line that says "Wages".

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

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