Edward Posted February 28, 2009 Report Posted February 28, 2009 T/P retired from civil service in 1987. Had been recovering investment via the Simplified General Rule up to his date of death. Unrecovered balance of 3800.00 was taken as itemized deduction "not subject to 2%". Now spouse gets 1099R and it shows "deceased spouses ORIGINAL INVESTMENT.? In addition in "taxable amount" it has UNKNOWN? I would assume its fully taxable, and if not what am I missing? Thanks for your comments. Quote
David1980 Posted February 28, 2009 Report Posted February 28, 2009 Normally with these OPM's the unrecovered balance continues to be taken by the surviving spouse. I would guess if it was taken as an itemized deduction it's all taxable. OPM has a good tool on their website to determine the amount based on date retired and ages. http://apps.opm.gov/tax_calc/index.cfm Quote
TAXBILLY Posted February 28, 2009 Report Posted February 28, 2009 Thanx David. That is an awesome toll! taxbilly Quote
Edward Posted February 28, 2009 Author Report Posted February 28, 2009 DAVID1980: This answered my question - I believe it would be to her benefit to allow her to claim the tax free benefits until the investment has expired. Thanks again - This saved alot of further research for me. We couldn't survive without this board. Your're great!!!! Quote
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