cathyan Posted March 30, 2009 Report Posted March 30, 2009 OK, probably dumb question, but I'm so confused right now. Client is retired military and gets pension from Defense Finance out of London, KY. Is this a public (government) pension, or private pension? I would think it was public, but my software is saying private. Admittedly, I don't know how these are funded, not having been in the military, but any help would be appreciated. It makes a big difference in MO. Quote
grandmabee Posted March 30, 2009 Report Posted March 30, 2009 OK, probably dumb question, but I'm so confused right now. Client is retired military and gets pension from Defense Finance out of London, KY. Is this a public (government) pension, or private pension? I would think it was public, but my software is saying private. Admittedly, I don't know how these are funded, not having been in the military, but any help would be appreciated. It makes a big difference in MO. its a government pension. Our state also give a big deduction for government pension. Quote
kcjenkins Posted March 30, 2009 Report Posted March 30, 2009 If you look at the top of page 2 of Form MO-A, the black like states that "Public pensions are pensions from any Federal, state or local government." Therefore, any military pension is clearly a 'public' pension. Quote
cathyan Posted March 30, 2009 Author Report Posted March 30, 2009 Thanks. That's what I thought, but Taxwise wants to put it as private, and I doubted myself at this late in the game! Quote
kcjenkins Posted April 1, 2009 Report Posted April 1, 2009 Ah, but we are smarter than the software, which is why we are needed! Software naturally 'defaults' to private, since that is the safe default. Quote
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.