Do I have to pay tax on my military retirement pay?
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| Military retirement pay based on age or length of service is taxable
income in the tax year received and should be reported on your tax
return. However, if you elect to take a reduced payment from your
military retirement pay in order to provide an annuity
for your spouse or child upon your death you should only pay tax on the reduced
payment on your tax return. |
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| Related tax
information about military retirement pay |
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Are Veterans benefits taxable?
Are VA rehabilitation payments
taxable?
Are Veterans life insurance proceeds
taxable?
Is interest on veterans insurance
dividends taxable?
Income Related Questions and Answers |
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IRS publications about military retirement pay:
For further tax information about military retirement pay
see IRS Publication 17,
Your Federal Income Tax. |
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Ask Julian Block your IRS and tax questions! |
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If you can't find the answer to your IRS or tax question in our
web you can call former IRS Special Agent and one of the country's foremost tax attorneys, nationally syndicated columnist ("The Tax
Adviser") Julian Block. Julian is also the tax Editor of Mutual Funds Magazine, America's premier investment magazine. To
call Julian for a tax consultation click
here. |
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