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No, turning 59-1/2 in 2016 only keeps you from incurring a 10% penalty for early distribution.
If you made any after-tax contributions to your pension/annuity plan, you can exclude part of your pension/annuity from taxable income.
Note: Your contributions are reflected in box 5, Form 1099-R.
No, turning 59-1/2 in 2016 only keeps you from incurring a 10% penalty for early distribution.
If you made any after-tax contributions to your pension/annuity plan, you can exclude part of your pension/annuity from taxable income.
Note: Your contributions are reflected in box 5, Form 1099-R.
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