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- Re: Retiree received a 1099-MISC
Retiree received a 1099-MISC
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catherine3
Level 3
yesterday
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I am doing a return for a 99 year old who receives a pension every year from JPMorgan chase. Every year it is reported on a 1099-R. Last year she received her regular 1099-R from JPMorgan Chase. However, she received an additional 1099-MISC from JPMorgan Chase (different tax ID - but still referencing LIRR pension) in the amount of $4,644. This is making her taxes considerably higher. I called her and she does not know what it is for. Is there any way I can report this so that she does not have to pay such high taxes? Does anyone know why a pension would be on a 1099-MISC?
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Terry53029
Level 14
yesterday
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Maybe your client got a incentive payment for something. Should call broker to see exactly what it was for. If it was from his pension they should correct their mistake. If they refuse to send a 1099R and a corrected 1099MISC for zero. If they do not send a 1099R and it is correct list it as other income not subject to SE tax.
