This interview will help you determine if your pension or annuity payment from an employer-sponsored retirement plan or nonqualified annuity is taxable. It doesn't address Individual Retirement Arrangements (IRAs).
Information You'll Need
- The type of retirement plan the distribution was made from (i.e. qualified retirement plan, nonqualified annuity). You may need to check with your employer or plan administrator.
- If you have a cost to recover in the qualified retirement plan or the amount of investment in the contract for a nonqualified annuity.
- If any portion of your investment in the nonqualified annuity contract was made before August 14, 1982.
- The amount of any previous distribution from your nonqualified annuity.
- Whether federal income tax was withheld from the distribution (Form 1099-R (PDF)).
The tool is designed for taxpayers that were U.S. citizens or resident aliens for the entire tax year for which they're inquiring. If married, the spouse must also have been a U.S. citizen or resident alien for the entire tax year. For information regarding nonresidents or dual-status aliens, please see International Taxpayers.
Caution: For 2018 and 2019, this topic doesn’t include the recently passed legislation that provides income attributable to a qualified disaster distribution may be included in income ratably over three years. Until the update can be made, please see H.R. 1865, “Further Consolidated Appropriations Act, 2020”, Division Q.
Conclusions are based on information provided by you in response to the questions you answered. Answers do not constitute written advice in response to a specific written request of the taxpayer within the meaning of section 6404(f) of the Internal Revenue Code.
Estimated Completion Time: 15 minutes
Please Note: After 15 minutes of inactivity, you'll be forced to start over.
Caution: Using the "Back" button within the ITA tool could cause an application error.