Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I've been at 30% for two years now and only get one 1099-R from DFAS.
2013 Retiree 1099-Rs are available on MyPay.
Disability pay isn't taxable. I don't think the percentage changes anything.
I've been at 30% for two years now and only get one 1099-R from DFAS.
2013 Retiree 1099-Rs are available on MyPay.
Disability pay isn't taxable. I don't think the percentage changes anything.
Yes, but on your 1099-R it always states that this is VA tax exempt monies (40% and below)...
So, if it's not taxable I guess it's not reportable...and I will not receive anything...
Just asking to understand, please don't take this as a troll or flame.
You get retirement pay and a high percentage of disability pay? And an increase in disability isn't offset by a decrease in retirement?
Is it because it's VA disability?
Again, just trying to learn.
40% and under disability your retirement pay is offset by not paying taxes on 40% of your retirement...
50%+ disability, your retirement goes back to normal and you pay taxes on the entire retirement pay, then VA gives you (whatever the the payment is) seperatley from your retirement...
Yes, but on your 1099-R it always states that this is VA tax exempt monies (40% and below)...
So, if it's not taxable I guess it's not reportable...and I will not receive anything...
My 1099-R does not include any reference to my VA disability pay. It shows Block 1 - Gross Distribution and then Block 2a - Taxable Amount (both amounts are the same). On my Monthly Retiree Account Statement it shows Gross Pay, VA Waiver,and then Taxable Income. As far as I can see, there's no way to tell that I receive disability pay by looking at the 1099-R.
You will get a 1099-R for your retirement pay.
You will not get a 1099-R for your disability pay.
40% and under disability your retirement pay is offset by not paying taxes on 40% of your retirement
That's not quite the way it works. At 40% and under you "waive" a right to a portion of your retirement pay in order to get that waived amount as a tax free disability payment from the VA. The dollar amount of the waiver is based on your VA Rating (%) and family status. My waiver amount isn't even close to 40% of my gross. Here's a link to the 2014 VA Compensation Rate table: VA Disability Compensation Rates | Military.com
Quote:
Originally Posted by chucksnee
50%+ disability, your retirement goes back to normal and you pay taxes on the entire retirement pay, then VA gives you (whatever the the payment is) seperatley from your retirement...
Even at 30% I get a separate check (direct deposit) from VA
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
