Tax Implication of Pension

Discussion in 'General Discussion' started by brunn2, Jan 12, 2017.

  1. brunn2

    brunn2 Newbie

    Is the pension considered taxable income? My mother lives in Pennsylvania. Does the VA send any year end paperwork?
     
  2. Kaylin

    Kaylin Hero Member Staff Member

    The A&A benefit is not taxable. And there is currently no EVR in place where you need to update your information every year.
     
  3. Jandy

    Jandy Jr. Member

    Just so I'm clear about this--OK, I understand that A&A is not taxable. But when filling out the income tax return, do you enter it anywhere (maybe line 16a; and designate "$0" taxable on 16b)?....

    OR do you not enter it anywhere on the income tax return (like it never happened)?
     
  4. Kaylin

    Kaylin Hero Member Staff Member

    These are questions for your tax advisor, Jandy.
     
  5. brunn2

    brunn2 Newbie

    I just had my taxes done (H&R Block) and the tax advisor said I do not have to report the A &A on the tax return.
     
    Kaylin and Jandy like this.
  6. Jandy

    Jandy Jr. Member

    brunn2,
    Thanks so much for the heads up. Although I knew the benefit isn't taxable, I hadn't been able to find exactly how to treat it (if at all) on the return. You really helped me (and others!) out.

    Thanks again and my best to you....
     
    Kaylin likes this.

Share This Page