Jump to content



Search



Toggle shoutbox Shoutbox Open the Shoutbox in a popup

@  Notorious Kelly : (25 October 2014 - 07:53 PM) Max- Contact Your Congressman- Dea Has Got Docs So Cowed They're Afraid To Dispense Tylenol
@  maxwell18 : (25 October 2014 - 07:10 PM) Anybody Having Problems Getting Pain Pills (Norco) Filled Us Navy Base (Nas Whiting Fld Milton Fl). Had A Prescription For 90 Norco Pills For 30 Days, 3 A Day For Pain, Got 30 For 30 Days. That Will Last Me 10 Days. Another Thing That Our Government Is Screwing With Us. I Don't Know What To Do, Don't Want To To The Va, Don't Know What They Will Either. Anybody Goy Any Ideas. 
@  Burt : (25 October 2014 - 10:28 AM) Does Anyone Else Here Wear A Don Joy Armor Knee Brace From The Va?
@  red : (24 October 2014 - 10:10 AM) Any News On Space A Flying?
@  Tbird : (23 October 2014 - 05:07 PM) Correction Jan 20. 2015 Will Be Hadit.com's 18 Year Anniversary
@  Tbird : (23 October 2014 - 11:38 AM) Jan 20, 2015 Will Be Hadit.com's 19 Year Anniversary, That's Amazing.
@  britton : (23 October 2014 - 08:14 AM) I Got It Tbird Thank You
@  Tbird : (22 October 2014 - 05:26 AM) Britton Sent You A Pm
@  britton : (21 October 2014 - 10:05 PM) Tbird, I Sent A Donation To Hadit Via Pay Pal...i Hope You Got It?
@  raven316 : (21 October 2014 - 01:59 PM) Glasses
@  iceturkee : (20 October 2014 - 06:50 AM) Good Luck Plum
@  Notorious Kelly : (19 October 2014 - 06:32 AM) I Wish You All The Best With That, Plum!
@  me.plum : (18 October 2014 - 01:09 PM) Hearing For Bva 11-19 At 8:30 Wow!!! Thanks Everyone!!!
@  Tbird : (18 October 2014 - 12:30 PM) Buckeye46 Thank For Contributing Our Fund Raiser
@  Notorious Kelly : (17 October 2014 - 02:11 PM) Impressive Site, Kimmy. I Bookmarked. Thanks! :)
@  Kimmy : (17 October 2014 - 08:31 AM) I Recently Discover The Site. It Is Very Detailed With Info On Conditions And Ratings.
@  Kimmy : (17 October 2014 - 08:28 AM) Has Anyone Here Been To This Site? Http://www.militarydisabilitymadeeasy.com/
@  Tbird : (17 October 2014 - 08:06 AM) Snake Eyes Thank You For Remembering Us. Congratulations On Your Retro.
@  Snake Eyes : (16 October 2014 - 07:04 PM) Thinking Of Donating A Portion Of My Retro On Next Claim. Smaller Amount Coming Beginning Of November. Thanks For The Good Work!
@  britton : (13 October 2014 - 06:13 AM) Hi There T Bird Shout Backatcha

Photo

Question For Recent Chapter 61 Retiree


This topic has been archived. This means that you cannot reply to this topic.
6 replies to this topic

#1 jvretiredvet

 
jvretiredvet

    E-6 Petty Officer 1st Class

  • Chief Petty Officers
  • PipPipPipPipPipPip
  • 324 posts
 

Posted 27 May 2012 - 11:39 AM

On the Form 1099-R that you receive from DFAS, what is the Distribution Code in Box 7 ?

#2 Commander Bob

 
Commander Bob

    E-9 Master Chief Petty Officer

  • HadIt.com Elder
  • PipPipPipPipPipPipPipPipPip
  • 1616 posts
 

Posted 28 May 2012 - 06:23 AM

On the Form 1099-R that you receive from DFAS, what is the Distribution Code in Box 7 ?



http://www.taxslayer...article188.aspx

Also try: http://www.dfas.mil/...itary/faqs.html


Have you filed for VA SC comp?

Good Luck,

Bob

Edited by Commander Bob, 28 May 2012 - 06:27 AM.


#3 jvretiredvet

 
jvretiredvet

    E-6 Petty Officer 1st Class

  • Chief Petty Officers
  • PipPipPipPipPipPip
  • 324 posts
 

Posted 28 May 2012 - 01:41 PM

Thank you for the response.

However, I did not need a list of the codes, I know the Distribution Codes from the instructions for Form 1099-R http://www.irs.gov/p...-pdf/i1099r.pdf .

What I need is verification from a recent Ch 61 retiree what the code in Block 12 of their DFAS Form 1099-R is. I was hoping to get this information without trudging through 10 USC, 26 USC, or doing battle with DFAS.

By way of history, I've been doing a bit of income tax law review prior to the Registered Tax Return Preparer (RTRP) test, creating tax scenarios and so forth. In reviewing pension and annuity income, I thought of Ch 61 retirees.

I've prepared several hundreds of tax returns for Active Duty and retired militay folks. However, I do not recall ever seeing a Distribution Code 3 on a DFAS 1099-R. Does that mean that Ch 61 payments are not classified as disability? Or perhaps, have I never had a Ch 61 troop sitting in front of me? I dunno, but a disability retirement (prior to the minimum retirement age) from other government agencies or civilian enterprises warrants a Code 3. Note: the coding is important because it opens - or closes - access to certain other tax benefits.

As for Have you filed for VA SC comp? ... I currently see no need to apply for anything.


http://www.taxslayer...article188.aspx

Also try: http://www.dfas.mil/...itary/faqs.html


Have you filed for VA SC comp?

Good Luck,

Bob



#4 Commander Bob

 
Commander Bob

    E-9 Master Chief Petty Officer

  • HadIt.com Elder
  • PipPipPipPipPipPipPipPipPip
  • 1616 posts
 

Posted 28 May 2012 - 03:31 PM

...I dunno, but a disability retirement (prior to the minimum retirement age) from other government agencies or civilian enterprises warrants a Code 3. Note: the coding is important because it opens - or closes - access to certain other tax benefits....






Thank you, 'jvretiredvet', for your service to the many veterans you have helped with their taxes.

It has been my experience that most Chapter 61 retirees, opt for the VA compensation, instead of the military retiree pay, for obvious reasons. Higher VA disability ratings, increased monthly pay, and no taxes. Military CRSC can be received by certain chapter61 retirees, however, that stipend is also tax exempt.

Best wishes on your (RTRP) test,

Cmdr. Bob

Edited by Commander Bob, 29 May 2012 - 08:39 AM.


#5 jvretiredvet

 
jvretiredvet

    E-6 Petty Officer 1st Class

  • Chief Petty Officers
  • PipPipPipPipPipPip
  • 324 posts
 

Posted 29 May 2012 - 10:20 AM

As I said, this was a hypothetical situation about Chap 61 troops that popped into my mind while I was doing a bit of light reading. But actually, the basic premise of the different distribution codes is not so hypothetical because I have used them for several civilian type folks.

Yeah, under the present system, it is unlikely that Chap 61 retirees would chose to continue their MilRetPay versus applying for VA compensation. And, the scenarios in my head concerning the 1099-R distribution code would be beneficial to few, very few, in any event.

Now, if CRDP for Ch 61 troops ever were authorized, this might be a different story. In any event, I still would like to know what the Distribution Code on a Ch 61's 1099-R would be.

Thank you, 'jvretiredvet', for your service to the many veterans you have helped with their taxes.

It has been my experience that most Chapter 61 retirees, opt for the VA compensation, instead of the military retiree pay, for obvious reasons. Higher VA disability ratings, increased monthly pay, and no taxes. Military CRSC can be received by certain chapter61 retirees, however, that stipend is also tax exempt.

Best wishes on your (RTRP) test,

Cmdr. Bob



#6 DblTap1

 
DblTap1

    E-3 Seaman

  • Third Class Petty Officers
  • PipPipPip
  • 45 posts
 

Posted 13 August 2012 - 05:12 AM

jvretiredvet
Tried to look up mine for you but it hasn't generated a 1099R yet. Looked over the RAS and it didn't show anythihg that would help you either.

Good luck finding your answer

#7 jvretiredvet

 
jvretiredvet

    E-6 Petty Officer 1st Class

  • Chief Petty Officers
  • PipPipPipPipPipPip
  • 324 posts
 

Posted 13 August 2012 - 11:42 AM

DblTap1, thank you for the response.

FWIW, the CY 2012 Form 1099-R will not be available from DFAS (either hard copy or through MyPay) until mid-ish to late-ish January 2013.

If it's not too inconvenient, I'd appreciate a follow-up in Jan-Feb 2013 to see what the Distribution Code on your 1099R is.

TIA

jvretiredvet
Tried to look up mine for you but it hasn't generated a 1099R yet. Looked over the RAS and it didn't show anythihg that would help you either.

Good luck finding your answer