rrb 1099r question

[photoman]

I have a new client and the TP worked for railroad and both he and wife receive payments. Am I correct that since the TP is the only one with employee contributions that I would only figure one simplified worksheet.

[Burke]

Yes, the RRB statement would only show employee contributions on the wife's 1099 if she actually worked there. But this is interesting, I have lots of these, and in one case, the husband died in 2011. Now, her new RRB-1099 DOES show his contribution amount. So I am assuming since he had not completely recaptured all of his contributions, that I can continue excluding the balance of unrecaptured amount on hers until it is all used up. The railroad has a nice retirement benefit. When RR worker retires, his/her spouse gets 1/2 of the worker's RR benefit at the same time for life.

[photoman]

Thanks and yes I agree the railroad retirement is an example of a good retirement plan.