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New Member
posted Apr 13, 2023 4:33:26 PM

Is distribution from a nonqualified retirement plan deductible in Illinois?

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2 Replies
Expert Alumni
Apr 13, 2023 5:08:51 PM

A distribution from a nonqualified retirement plan is taxable income for both Federal and Illinois State  Tax Returns.

 

If you made a contribution to a nonqualified retirement plan it is not deductible.

New Member
Apr 13, 2023 5:34:22 PM

Thanks Linda!