Taxable Income Tax
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Question: I am a military retiree who has a question about reporting Taxable Income on my income tax return.?
Under the new concurrent receipt rule, I receive my regular pension and disability income. On my form 1099-R, these two amounts are lumped together as Gross income and taxable income. My question….do I have to pay tax on the disability portion?
Answer: Yes. What they’re doing is paying you more retired pay than you used to get under old “give up $1 in taxable retired pay for $1 in nontaxable VA pay” method.
If it’s on a 1099-R, report it.
New North Dakota “EZ” income tax form debuts
A simpler North Dakota state income tax form is making its debut this year, and a more complex form has been dumped. Tax Commissioner Cory Fong, says the North Dakota “EZ” form is designed for wage earners who like to file paper returns.
Tax Tips & Information : How to Calculate Federal Income Tax to Pay to the IRS
