2023 W-4P

[kmsh]

Greetings!

My wife and I are both retiring and have a question on IRS W-4P.

Say my pension is $60,000 and my wife's is $50,000.

On my wife's W-4P, would she report my pension of $60,000 in Step 2, b, i and iii?

On my W-4P, would I also report my wife's pension of $50,000 in Step 2, b, i and iii?

Thanks, 

K & M

[DMarkM1]

There only needs to be entries for steps 2-4 on the W4P for the highest paying pension.  On you W4P enter your wife's lower pension amount on step 2 b (ii) which then flows to 2 b (iii) and complete steps 3 - 4b as applicable and sign in step 5.  

Your wife's W4P will show a check for Married Filing Jointly in step 1c and a signature in step 5 and nothing in between.   

[kmsh]

Thanks for the quick reply!  I found the IRS instructions very confusing and lacking.

K