PBGC benefits
#1
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Gets Weekends Off
Joined: Feb 2018
Posts: 175
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From: Retired from UAL
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
#4
Did you try going through this on the IRS site?
https://www.irs.gov/help/ita/is-my-p...ayment-taxable
#5
Gets Weekends Off
Joined: Jan 2020
Posts: 215
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#7
Gets Weekends Off
Joined: Dec 2008
Posts: 199
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From: 777 Cap
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
taxable federal and most states
some states do not tax pension payments
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