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Filling out a W4P with two pensions

Hello,

This may have already been answered, but I am a new retiree with the State of Arizona - my husband has been retired previously and his W4P currently is not taking out taxes... with the new W4P changes, it looks odd and I want to be sure we have enough taxes taken out so we don't owe.  His pension is lower and the W4P indicates that I should put his annual in my W4P in step 2 ii, since it is lower?

Currently his W4P has his annual listed in step 4 a - so I think that's why no taxes are being taken out?

Currently I did not put anything in any of the steps of my W4P and let it figure out what taxes to take out.  It is taking out some taxes, but again, I'd like to get this straightened out.  I'm thinking we take out the annual listed in his W4P and put that in 2 ii of my W4P and we put nothing in the steps of his W4P?

Thank you for your assistance.

 

1 Best answer

Accepted Solutions
conniem123
Employee Tax Expert

Filling out a W4P with two pensions

Hi jlgib,

I hope you are having a great day!  Congratulations on retirement!  Since you have more than one pension;

 

Enter your taxable Social Security on Form W-4P Step 2(b)(i) from Form 1040 line 6b.

 

On Step 2(b)(ii) enter the total amount of pension/annuity income from all other pensions and annuities except the one you are filing Form W-4P for.  That will be the total of Form 1040 lines 4b and 5b minus the pension your are working on.

 

I hope you find this helpful!

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View solution in original post

1 Reply
conniem123
Employee Tax Expert

Filling out a W4P with two pensions

Hi jlgib,

I hope you are having a great day!  Congratulations on retirement!  Since you have more than one pension;

 

Enter your taxable Social Security on Form W-4P Step 2(b)(i) from Form 1040 line 6b.

 

On Step 2(b)(ii) enter the total amount of pension/annuity income from all other pensions and annuities except the one you are filing Form W-4P for.  That will be the total of Form 1040 lines 4b and 5b minus the pension your are working on.

 

I hope you find this helpful!

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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