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Ask Lane Your Own Question
Category: Tax
Satisfied Customers: 11821
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
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I am filling out a tax election pension. They are asking

Customer Question

I am filling out a tax election for my pension. They are asking for Tax Rule and exemption number, I don't know what to choose.
Submitted: 1 year ago.
Category: Tax
Expert:  Lane replied 1 year ago.
THe exemption number is ***** another way of asking what you want withheld for tax purposes....If you file as married filing jointly (because you each get an exemption) 2 should be about right - might be a little bit of over-withholding if you itemize, therefore generating a small refund at tax time....You'll have to tell me a little more about the tax rule piece (they COULD be talking about rule 72(t) for waiving the 10% earlky retirement penalty - but that won't apply if you left employment after age 55
Expert:  Lane replied 1 year ago.
CAn you possibly scan-in and attach the form (that way I can see what they're asking) - pleas don't do so with any personal information, however
Expert:  Lane replied 1 year ago.
Hi Don,...Did you see my answer?...let me know if you need more here...Lane