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Old 02-23-2016, 05:33 AM
 
108 posts, read 81,704 times
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He will be getting $829 a month.
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Old 02-23-2016, 05:57 AM
 
Location: Los Angeles area
14,018 posts, read 17,756,785 times
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Doesn't it depend on how much of the pension was funded by after-tax as opposed to pre-tax dollars? The monthly amount of the pension is irrelevant. All of it may well be subject to federal taxes. In any case there is not enough information in the OP to answer the question posed. The original poster should have her husband inquire with the agency or office which manages the pension, as they are the ones who will have to issue the 1099 at the end of each calendar year. The 1099-R form has the "gross distribution" in box 1 and the "taxable amount" in box 2a. In my case 99% of the pension (rounded off to the nearest whole percent) is taxable.
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Old 02-23-2016, 06:00 AM
 
Location: RVA
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If that is all he gets plus SS, he will pay no Federal Tax.
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Old 02-23-2016, 06:18 AM
 
108 posts, read 81,704 times
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He contributed to his pension with pretax dollars.
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Old 02-23-2016, 06:21 AM
 
Location: North Beach, MD on the Chesapeake
33,929 posts, read 42,185,115 times
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My rate is 20% Federal, 7.75% State of Maryland.
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Old 02-23-2016, 09:13 AM
 
Location: Central Massachusetts
4,800 posts, read 4,855,118 times
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Quote:
Originally Posted by forenzavue View Post
He contributed to his pension with pretax dollars.


I agree with Perryinva. Chances are there will be no federal tax. Even if taxes are being withheld he will more likely receive it back in Tax refund both fed and state if the state takes any. But it will depend on if there is any other income. SS will not affect it based on what I see. You didn't give us much information to work with though.
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Old 02-23-2016, 09:19 AM
 
Location: SoCal
13,297 posts, read 6,362,704 times
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Probably none.
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Old 02-23-2016, 09:41 AM
 
108 posts, read 81,704 times
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He will be getting $988 monthly in Social Security for him and our 3-year-old will get $655 monthly from SS for being the minor child of a retiree.
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Old 02-23-2016, 09:45 AM
 
Location: Los Angeles area
14,018 posts, read 17,756,785 times
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Quote:
Originally Posted by Perryinva View Post
If that is all he gets plus SS, he will pay no Federal Tax.
Quote:
Originally Posted by golfingduo View Post
I agree with Perryinva. Chances are there will be no federal tax. Even if taxes are being withheld he will more likely receive it back in Tax refund both fed and state if the state takes any. But it will depend on if there is any other income. SS will not affect it based on what I see. You didn't give us much information to work with though.
True statements, but that was not the question posed in the thread title, which did not ask about tax liability but about whether the pension will be subject to federal taxation.
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Old 02-23-2016, 09:49 AM
 
Location: SoCal
13,297 posts, read 6,362,704 times
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Quote:
Originally Posted by forenzavue View Post
He will be getting $988 monthly in Social Security for him and our 3-year-old will get $655 monthly from SS for being the minor child of a retiree.
Is there any other income? But I still think none.
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