PBGC benefits
 

I’m a newly retired United pilot and started drawing my PBGC benefit this year. On the 1099, the PBGC checks the box that “the taxable amount not determined.” My tax software doesn’t have a clue and I can’t find anything conclusive on the IRS site. Are you guys showing all of your payments as taxable? I suspect that’s the answer. Thanks, Jeff

I think it just means that the payer did not determine whether or not the distribution was taxable...it is up to you to list the taxable amount.

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Yes. That’s my question...are United Airlines PBGC payments considered taxable income?

Did you try going through this on the IRS site?

https://www.irs.gov/help/ita/is-my-p...ayment-taxable

Try this PBGC site.

https://www.pbgc.gov/about-pbgc/who-...-taxes-and-you

I've been drawing DAL PBGC since 2007. I pay normal tax.

taxable federal and most states

some states do not tax pension payments