Finance - HL 237 (1)

Helpful miscellaneous articles regarding our retirement plan and planning.  Like you, I review my retirement nestegg and plan from time to time.  Recently, I went though some continued education for some credentials I maintain and it occurred to me that we all could use a review about these issues.  So with your help, we will share and post articles and info that may be helpful and of interest to many of you in this section.

Hi folks,
 I am badly in need of info regarding taxes paid on the DL stock at the time it was awarded to us.
 I cashed in my stock in 2013 when it reached $19. Per share. I withdrew the money at that time from my retirement and did not withhold further taxes.
 Now the IRS is trying to collect taxes again on the sale of the stock. My CPA is handling this but needs documentation stating that taxes were previously paid on the stock.
 Where can I go to find this situation clarified? Thanks much if anyone can point me in the right direction.

 Mal Harper
mci4me36@comcast.net

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Mark and Mall,

In my case I received a letter from Delta, Robert l. Kight, dated

February 11, 2008, that included materials relating to the distributions

received from Delta in 2007 on account of the allowed claims in Delta's

bankruptcy.  This letter included:

     -An individual statement regarding the distributions received.

     -A copy of the Social Security Adminstration Form 131 (SSA 131)

filed on my behalf.

The statement shows in detail the different classifications of award,

the values and the amount of income tax withheld.  The W-2 Form for 2007

received from Delta also showed this information and it matched the

statement to the penny.  By the way, my cost basis per share was $19.55

so if  Mal's basis is the same he might wind up with a refund if he sold

it at $19.00 per share!!

The letter shows a contact email of 'delta.retiree@delta.com' however

that is probably not active anymore.  Maybe you can get the information

from the Employee Service Center, it will just take a while.

Hope this info is helpful,

Ray Jones

L-1011 Retiree 1997

jwilton@bellsouth.net

++++

Hey Mark,

Thanks for the help with my tax problem. The group really came through.

I received many suggestions as to where to find the needed information and what action to take.

My CPA says he has sufficient information now to make the issue go away.

My thanks to everyone.

Mal Harper  mci4me36@comcast.net

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(As with any of these informative articles, anyone who needs someone to talk to about

this very subject contact me and I can direct you to a knowledgeable advisor).

 


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