@apergoli wrote:
Thanks.... What if in my 1st year the pension pays out more than the total that I put in. Can I deduct all of my contributions in the 1st year or do I need to spread it out?
@apergoli
In that situation you would deduct all of your contributions in that first year. You cannot spread it out. Then in all future years the full amount that you receive from the pension would be taxable.
