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Old 02-26-2015, 05:40 PM   #21
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I used TT Premier that I got free thru Vanguard. Unfortunately, I had to print and snail mail both federal and two state returns.
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Old 02-26-2015, 05:58 PM   #22
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Old 02-26-2015, 07:51 PM   #23
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Maybe I should have clarified that although I've lived in Texas for the last 10 years, Louisiana IRS still has their claws in me and I have to pay LA taxes on the pension from my LA based ex-employer.
Alan, Are you considered a LA resident? I didn't realize that you have to pay LA taxes for LA source income. I thought all that source based taxation went away after 1996.
Do You Pay Taxes on Pensions From the State You Retired In or the State You're Living In? | Finance - Zacks
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Old 02-26-2015, 08:38 PM   #24
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Alan, Are you considered a LA resident? I didn't realize that you have to pay LA taxes for LA source income. I thought all that source based taxation went away after 1996.
Do You Pay Taxes on Pensions From the State You Retired In or the State You're Living In? | Finance - Zacks
Thanks for the link but I'm afraid the pension I get taxed on is not a traditional pension, it is a non-qualified pension reported on a W-2. Both my company and myself have inquired and talked with LA IRS and my company withholds State taxes, but no payroll taxes. I also have a traditional qualified pension from the same company reported on a 1099-R and that is not taxable by LA IRS. Fortunately the 1099-R pension is the larger of the 2.
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Old 02-27-2015, 11:14 AM   #25
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So if it is W-2 income can you contribute to a Roth since you have earned income?
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Old 02-27-2015, 01:15 PM   #26
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So if it is W-2 income can you contribute to a Roth since you have earned income?
Afraid not because box 13 is checked to indicate it is a Retirement Plan, so no payroll taxes are withheld, or owed, since it is passive, not earned, income. (no FICA or Medicare)


ETA


When I transferred to the USA subsidiary of my company the DB pension was not transferrable so my US contract stated that when I retire I will be owed a pension based on my total years record with the company. When I did retire they looked at the pension I was due based on my 18 years service in the US and the pension I would get from my 7 years service in the UK. Then they calculated what I would have received if I had done all 25 years in the US, and they make up the difference with this W-2 retirement plan. It is very generous of them and another reason why I hung on until I had 25 years service and age 55 to get the extra pension. This is also why I get 3 pension checks from essentially the same company. (I also get a 4th pension from another UK employer where I worked 6 years)
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