Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Feb 8, 2022 8:21:35 PM

If my employer purchased an annuity plan for me as a retirement incentive, is that qualified or non-qualified?

0 1 166
1 Replies
Expert Alumni
Feb 8, 2022 8:32:53 PM

Most plans are qualified, which means they adhere to guidelines promulgated by the IRS to make contributions to them tax-deferred. If you make contributions to the plan and they are not included in your taxable income as reported in box 1 on your W-2 form, or if your employer does the same, it is probably a qualified plan. You can ask your employer to make sure though.