PBGC benefits
#1
Gets Weekends Off
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Joined APC: Feb 2018
Position: Retired from UAL
Posts: 175
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
#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 APC: Jan 2020
Posts: 215
#7
Gets Weekends Off
Joined APC: Dec 2008
Position: 777 Cap
Posts: 199
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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