topic Are my pension and annunity funds qualifie as deductions? in Retirement tax questions https://ttlc.intuit.com/community/retirement/discussion/are-my-pension-and-annunity-funds-qualifie-as-deductions/01/525934#M48927 Wed, 05 Jun 2019 03:32:35 GMT bmwhw4 2019-06-05T03:32:35Z Are my pension and annunity funds qualifie as deductions? https://ttlc.intuit.com/community/retirement/discussion/are-my-pension-and-annunity-funds-qualifie-as-deductions/01/525934#M48927 Wed, 05 Jun 2019 03:32:35 GMT https://ttlc.intuit.com/community/retirement/discussion/are-my-pension-and-annunity-funds-qualifie-as-deductions/01/525934#M48927 bmwhw4 2019-06-05T03:32:35Z You'll need to talk to your Pension Fund Administrator to... https://ttlc.intuit.com/community/retirement/discussion/you-ll-need-to-talk-to-your-pension-fund-administrator-to/01/525942#M48929 <DIV>You'll need to <B>talk to your Pension Fund Administrator </B>to find out<B> what type of Pension</B> Plan&nbsp;<B>you are participating in</B>. &nbsp;The type determines whether contributions are exclude-able from your income. Generally there are two types of Pension Plans. &nbsp;However, there are other less common Pension situations, so the only way to know for sure is to verify this with the fund administrator. &nbsp;<P><B><U>Qualified Pension Plan</U></B>:</P> <BLOCKQUOTE> <P>IRS-qualified pension plans offer tax benefits to contributors, whether it is the employer or employee making contributions, or both. In many cases, however, tax deductibility is not an issue, as most contributions are made pretax, eliminating the need for tax deductions on your annual return.&nbsp;</P> </BLOCKQUOTE> <P> <U> <B>Non-Qualified Pension Plan:</B> </U> </P> <BLOCKQUOTE> <P>Your contributions to non-qualified pension plans, such as standard annuities, are not tax deductible, as you contribute after-tax dollars to these plans.</P> </BLOCKQUOTE> </DIV><BR /> Wed, 05 Jun 2019 03:32:37 GMT https://ttlc.intuit.com/community/retirement/discussion/you-ll-need-to-talk-to-your-pension-fund-administrator-to/01/525942#M48929 DallasM 2019-06-05T03:32:37Z
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topic Are my pension and annunity funds qualifie as deductions? in Retirement tax questions
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Are my pension and annunity funds qualifie as deductions?
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https://ttlc.intuit.com/community/retirement/discussion/are-my-pension-and-annunity-funds-qualifie-as-deductions/01/525934#M48927
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You'll need to talk to your Pension Fund Administrator to...
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https://ttlc.intuit.com/community/retirement/discussion/you-ll-need-to-talk-to-your-pension-fund-administrator-to/01/525942#M48929
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<DIV>You'll need to <B>talk to your Pension Fund Administrator </B>to find out<B> what type of Pension</B> Plan&nbsp;<B>you are participating in</B>. &nbsp;The type determines whether contributions are exclude-able from your income. Generally there are two types of Pension Plans. &nbsp;However, there are other less common Pension situations, so the only way to know for sure is to verify this with the fund administrator. &nbsp;<P><B><U>Qualified Pension Plan</U></B>:</P> <BLOCKQUOTE> <P>IRS-qualified pension plans offer tax benefits to contributors, whether it is the employer or employee making contributions, or both. In many cases, however, tax deductibility is not an issue, as most contributions are made pretax, eliminating the need for tax deductions on your annual return.&nbsp;</P> </BLOCKQUOTE> <P> <U> <B>Non-Qualified Pension Plan:</B> </U> </P> <BLOCKQUOTE> <P>Your contributions to non-qualified pension plans, such as standard annuities, are not tax deductible, as you contribute after-tax dollars to these plans.</P> </BLOCKQUOTE> </DIV><BR />
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