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For state purposes, the cost (or basis) of an annuity is the amount of after-tax contributions you made to the contributory pension plan, if any. Some portion of the distributions is a return of those after-tax contributions and is non-taxable.
For state purposes, the cost (or basis) of an annuity is the amount of after-tax contributions you made to the contributory pension plan, if any. Some portion of the distributions is a return of those after-tax contributions and is non-taxable.
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