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My name is ***** *****. I am retired and receive a pension…

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My name is *****...

My name is ***** *****. I am retired and receive a pension from my former employer. My ex-wife gets some of that pension because we were married while I was employed. My ex-wife recently achieved Social Security Full Retirement Age and is now eligible to collect Social Security Spousal Benefits. Our Property Settlement Agreement states that my alimony to her is a fixed amount per year, offset by any pension she gets. I would like to treat her Social Security Spousal Benefit as pension, in order to justify a reduction in alimony. My question is: Do Social Security Benefits count as pension?

Accountant's Assistant: Thanks. Can you give me any more details about your issue?

I gave details. Do you need anything else?

Submitted: 2 years ago.Category: Tax
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Answered in 32 minutes by:
2/2/2016
Tax Professional: Lev, Tax Advisor replied 2 years ago
Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 32,859
Experience: Taxes, Immigration, Labor Relations
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Social Security Benefits are NOT classified as pension for income tax purposes.
These items are taxed differently and reported separately on your tax return form 1040

- Social Security Benefits are reported on lined 20a and 20b - and depending on your other income may be not taxable or partially taxable

- pension is reported n lines 16a and 16b and generally fully taxable while your original after tax contribution (if any) is distributed tax free.

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Tax Professional: Lev, Tax Advisor replied 2 years ago

.

If additional - pension that your spouse receives from your account is reducing your pension, but social security benefits that your ex-spouse receives base don your earning record doesn't affect your benefits.

So while your position and reasoning are clear - it is very unlikely your ex-spouse would agree - and if you or she will take the issue to the court you still have some chances to prevail but there is no guarantee.

Sorry if you expected differently.

.
I appreciate if you take a moment to rate the answer.
Experts are ONLY credited when answers are rated positively.
If you still have any doubts, need clarification - please be sure to ask.
I am here to help you will all tax related issues.

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