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Hi, Redoing 2011 taxes with for 1040x. Retired in 2010 with…

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Hi, Redoing 2011 taxes...
Hi, Redoing 2011 taxes with for 1040x. Retired in 2010 with railroad retirement. In 2011 I recieved an RRB 1099-r with $49,530 contributory amount paid. I didn't get a rrb 1099 that shows SSEB. Of the $49.530, 27,960 was tier 1 and 21,570 was tier 2. Could you tell mw how these are taxed? XXXXX XXXXX Washington, IN
Submitted: 5 years ago.Category: Tax
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7/2/2013
Tax Professional: Robin D., Senior Tax Advisor 4 replied 5 years ago
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 18,220
Experience: 15years with H & R Block. Divisional leader, Instructor
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Robin D :

Hello and thank you for using Just Answer,
Equivalent tier 1 railroad retirement benefits are the part of tier 1 benefits that a railroad employee or beneficiary would have been entitled to receive under the social security system. They are commonly called the social security equivalent benefit (SSEB) portion of tier 1 benefits. These are under the same rules for taxable amount like SS payments. You may have some taxable or none taxable depending on your income and filing status.

Tier 2 benefits consist of the rest of the Tier 1 benefits, called the "non-social security equivalent benefits," any Tier 2 benefits, vested dual benefits, and supplemental annuity benefits, they are taxed as pensions.

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