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Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: Tax
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Experience:  10 years experience
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My pension is from mers musk.co. is it tax free?

Customer Question

my pension is from mers musk.co. is it tax free?
Submitted: 8 months ago.
Category: Tax
Expert:  emc011075 replied 8 months ago.
Hi. My name is ***** ***** I will be happy to help you. Pensions are generally considered taxable income. Did you received 1099R for the it? What's in box 2 and what code is in box 7?
Customer: replied 8 months ago.
box 2 3759.36 code 7
Expert:  emc011075 replied 8 months ago.
code 7 is regular distribution meaning that the amount in box 2 is taxable.
Expert:  emc011075 replied 8 months ago.
If you need to file or not depend on your total income (including your spouse's if filing jointly). If you tell me little more about your situation I can tell you if you need to file tax return or not.

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