Local Government Pension Arizona
A portion of my pension is reported on a W-2 which is for earned income. Is this seen as same for tax purposes even though its not employer earned income? Note: Majority of pension is reported on a 1099R.
A portion of my pension is reported on a W-2 which is for earned income. Is this seen as same for tax purposes even though its not employer earned income? Note: Majority of pension is reported on a 1099R.
It is sometimes proper for your pension to be on a W-2 such as in the case of non-qualified deferred comp types of plans. You can contact your employer but if they insist that they will not correct it, this is likely why. Just report the income on your tax return the same way that they have reported it on your forms.
If you retired during the year you'd receive a W-2 for your wages or salary through your final pay period. But your pension or retirement income would be reported to you on a 1099-R, not a W-2. Make sure your employer isn't giving you a 1099-R and a W-2 for the same income, because then you'd be double-taxed.
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