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What is the taxable potion of Travis' pension from Pinto Corporation using the Simplified Method? Gross distribution $21785(box 1) , Federal income tax withheld 1935(box
What is the taxable potion of Travis' pension from Pinto Corporation using the Simplified Method?
Gross distribution $21785(box 1) , Federal income tax withheld 1935(box 4). Total employee contributions 38957(box 9 b). Travis is age 72 and blind, Sylvia is age 71. They are married and want to file a joint return. Travis retired in 2013 and began receiving his pension on Sep 1st of that year. He explains that is a joint survivor annuity. He has already recovered 9551 in the cost of the plan.
2020 CORRECTED (if checked) PAYER'S name, street address, city or town, state or province, 1 Gross distribution OMB No 1545-0119 Distributions From country, ZIP or foreign postal code, and phone no. Pensions, Annuities, 21,785.00 PINTO CORPORATION Retirement or 2a Taxable amount 1809 GULF DRIVE Profit-Sharing Plans, IRAs, Insurance YOUR CITY, STATE ZIP Contracts, etc. Is Form 1099-R 2b Taxable amount Total not determined X Copy B distribution Report this PAYER'S TIN RECIPIENT'S TIN 3 Capital gain (included 4 Federal income tax withheld in box 2a) income on your federal tax return. If this 40-100XXXX 318-00-XXXX 1,935.00 form shows RECIPIENT'S name 5 Employee contributions/6 Net unrealized federal income Designated Roth appreciation in tax withheld in contributions or TRAVIS KENNEDY employer's securities insurance premiums box 4, attach $ this copy to Street address (including apt. no.) IRA 7 Distribution your return. 8 Other 742 RED ROOSTER ROAD code(s) SIMPLE $ This information is being furnished to City or town, state or province, country, and ZIP or foreign postal code 9a Your percentage of total 9b Total employee contributors the IRS YOUR CITY, STATE ZIP distribution %$ 38,957.00 10 Amount allocable to IRR 11 1st year of desig, 12 FATCA filing 14 State tax withheld 15 State/Payer's state no. 16 State distribution within 5 years Roth contrib requirement $ Account number (see instructions) 13 Date of 17 Local tax withheld 18 Name of locality 19 Local distribution payment s SEP Form 1099-R www.rs.gowForm1099A Department of the Treasury - Internal Revenue Service 92 Advanced ScenariosStep by Step Solution
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