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Retirement tax questions
It appears that the GDCP is essentially a nonqualified deferred annuity, otherwise the interest credited monthly would have been taxable in the years credited rather than when distributed. As an annuity, I would expect it to be reported on Form 1099-R issued by the plan. Since the contributions are after-tax, only the interest is taxable upon distribution.
‎June 13, 2023
4:53 AM
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