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SCRIE and IRA distributions

NYC Rent Regulation: Rent Control/Rent Stabilized, DHCR Practice/Procedures

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SCRIE and IRA distributions

Postby backhoe » Tue Oct 30, 2018 12:30 pm

The new SCRIE renewal form asks for specific income information, and explicitly asks for "IRA Earnings."

The worksheet explicitly says that this does NOT mean distributions, and refers to one's "end of year statement." However, my brokerage (where I have my IRA) does not issue end of year statements. I have a bunch of stock holdings that don't generate much income anyway. I called and the brokerage had never heard of an end of the year statement.

Is anyone familiar with this? I have never had to declare IRA-related stuff before. I've had to take a bunch of distributions this year, so this is a make-or-break issue with me. I called 311 twice on this and they don't know. I spoke to a social worker at a senior center (referred to me by 311) ditto.

Is it possible that, despite what they say, they mean distributions? If so, I am screwed.
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Re: SCRIE and IRA distributions

Postby TenantNet » Tue Oct 30, 2018 1:21 pm

I can tell you from first-hand experience that 311 knows nothing about SCRIE. But there is a SCRIE Ombudsperson. Try emailing the question to SCRIE-Ombuds@finance.nyc.gov

I haven't been too happy with their responses, but there are live people at this email address.
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Re: SCRIE and IRA distributions

Postby backhoe » Tue Oct 30, 2018 1:26 pm

Good idea. Thank you. Ever deal with IRA distributions on SCRIE forms?
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Re: SCRIE and IRA distributions

Postby backhoe » Wed Oct 31, 2018 10:33 am

TenantNet wrote:I can tell you from first-hand experience that 311 knows nothing about SCRIE. But there is a SCRIE Ombudsperson. Try emailing the question to SCRIE-Ombuds@finance.nyc.gov

I haven't been too happy with their responses, but there are live people at this email address.


Unfortunately the Ombudsman was totally unhelpful. I would be curious to know if anyone out there has had to report IRA distributions? Are they used in computing income?
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Re: SCRIE and IRA distributions

Postby TenantNet » Wed Oct 31, 2018 1:03 pm

I don't know beans about IRAs, so I can't answer the question.

But just curious on the response you got from SCRIE. Can you post it here, or if privacy is a concern, please email it to us to tenant AT tenant.net, or send by private mail (the PM button to your left). Also please include the exact question you posed to the Ombudsperson. Thanks.
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Re: SCRIE and IRA distributions

Postby backhoe » Wed Oct 31, 2018 1:55 pm

I sent a detailed question, much as here, got an evasive response. Followed up, ditto.
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Re: SCRIE and IRA distributions

Postby BubbaJoe123 » Wed Oct 31, 2018 8:19 pm

I would think the end of year statement is a the 1099-R you should get from the broker every year. As for earnings, still not clear what they're referring to. Could be the taxable portion of a distribution, but by no means obvious from that renewal form.
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Re: SCRIE and IRA distributions

Postby backhoe » Mon Nov 11, 2019 2:18 pm

I just wanted to record the outcome of this. Based on high distributions, my application last year was denied. I appealed. My appeal was GRANTED. So in fact distributions from IRA are NOT considered part of one's income for SCRIE purposes.
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Re: SCRIE and IRA distributions

Postby TenantNet » Mon Nov 11, 2019 2:44 pm

Congrats. Can you send us the decision in case this issue comes up again? Thanks. (you can attach it to a private mail ("PM")
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Re: SCRIE and IRA distributions

Postby backhoe » Mon Nov 11, 2019 3:10 pm

The decision just said that my SCRIE was approved. No details! Same with the denial that I appealed. It didn't say why, just that my income was too high.
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