FORM 21-0516-1 - Fill in Monthly and Annual Amounts?

Discussion in 'General Discussion' started by Cattail, Aug 28, 2014.

  1. Cattail

    Cattail Newbie

    I have to give income information for four different time periods on a 21-0516-1 form for my dad (veteran) and his wife. I am referring to the EVR 21-0510 instructions. My dad has STRS (teacher's retirement), and they both have a small amount of Social Security. I painstakingly figured and filled in the total "annual" amounts for the four different time periods in box 7B. I don't know if I am supposed to also list the monthly amounts in box 7A. This is difficult, because the monthly amounts increased slightly over the time periods due to COLA increases. The instructions seem to indicate that if the annual amount is filled in, it is not necessary to fill in the monthly amount. Form 21-0516-1 says to read paragraphs 2 and 3 of EVR instructions to complete box &A and paragraphs 2 and 4 to complete box 7B. Paragraph 2 states: "If you are not sure whether to report income as "monthly income" or "annual income," don't worry. You may report it in either category. The important thing is to report all income, clearly state its source, and not to report the same income twice on the EVR." So should I leave off the monthly income since the annual is filled in? It doesn't seem like a good idea not to fill in this section, but I don't know exactly how to handle. Thanks in advance for any help.
  2. vetadmin

    vetadmin Administrator Staff Member

    The VA has done away with the annual EVR. Did you get something in the mail recently?
  3. VA Legal Team

    VA Legal Team Full Member

    It's a more info or denial letter. Annual EVR's never had 4 time periods.
  4. Cattail

    Cattail Newbie

    It's for a claim in process - not annual verification. The VA says they are trying to determine the best way to figure an award amount, either calendar year January 1 to December 31, or from October to October (claim date is October 4, 2012). So the four different time periods are: October 4, 2012 to December 31, 2012; January 1, 2013 to October 31, 2013; November 1, 2013 to December 31, 2013; and estimated for January 1 thru December 31, 2014. If I list income under monthly amounts, what do I list? For three of the periods, retirement income increased due to COLA, so the monthly amount isn't the same. Should I take the 1099-R forms and divide by 12 to get the monthly amount, then list under annual and times by the number of months in each period? The EVR instructions say not to list any income twice. I think the most accurate way to figure income is by using the 1099-R forms and dividing by twelve. I'm so paranoid about doing something wrong now, this has been going on for two years. I am grateful for any input.

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