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Taxpayer 53
retired police NJ division of pen
Mbos total pension contributions $208,925.33
1099-R for 2022 $38,579.45
Gross monthly pension statements $5,511.35
Pension Worksheet NJ
Part D- General Rule (I need help) I've called the pension company/ I've called the NJ tax practitioner line / IRS/ Proseries
$5,511.35 x 12 months x 3 years he would recover $198,408.60 (I know its less because the first year he recovered $38,579.46)
PART D line 1. $ $208,925.33
line 4 amount received this year $38,579.46
WHAT I CAN NOT FIRGURE OUT IS LINE 2 EXPECTED RETURN ON CONTRACT (TOTAL SUM OF DISTRIBUTIONS- PAST, PRESENT, FUTURE)
Like I said before I have called IRS, Tax P line for NJ, Pension phone number that came with the directions. I have read the directions. I have looked at Actuarial tables. I have read the state of NJ pub. Pension people do not know/ State of NJ P line also did not know/ neither did the IRS.
Can someone please help me! Line 2 only. What am I missing. Also, proseries customer service did not know. I get that I think I have to predict his life expectancy? I have Pub 939 printed. Male Age 53 MULTIPLES 27.1?
Thank you!