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Best answer by PopeyeTheSalior

It is a provision in the tax code allows the use of a special  formula called “ten-year income  averaging ” by qualifying individuals or their beneficiaries to determine the tax liability with respect to a lump sum distribution they may receive from an employer-sponsored qualified plan or annuity.

For more information:

https://ttlc.intuit.com/replies/6714619

1 reply

PopeyeTheSalior
Level 13
June 1, 2019

It is a provision in the tax code allows the use of a special  formula called “ten-year income  averaging ” by qualifying individuals or their beneficiaries to determine the tax liability with respect to a lump sum distribution they may receive from an employer-sponsored qualified plan or annuity.

For more information:

https://ttlc.intuit.com/replies/6714619