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Company annuity converted to lump sum paymnent
I received a monthly annuity payment from a company's non-qualified pension plan. The company was sold. They converted my annuity to a one-time lump sum payment. Do I have to treat that as regular income or are there special provisions to spread out tax payments on the lump sum?
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February 6, 2020
5:15 PM
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Retirement tax questions
There is no provision for spreading out lump sum payments for a on-qualified pension plan. This is taxable in the year it is distributed.
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February 6, 2020
5:34 PM
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