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Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: Tax
Satisfied Customers: 579
Experience:  10 years experience
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My pension is from mers is it tax free?

Customer Question

my pension is from mers is it tax free?
Submitted: 10 months ago.
Category: Tax
Expert:  emc011075 replied 10 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 10 months ago.
box 2 3759.36 code 7
Expert:  emc011075 replied 10 months ago.
code 7 is regular distribution meaning that the amount in box 2 is taxable.
Expert:  emc011075 replied 10 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.