what is the tax status of distributions from a defined benefit plan?
Sometimes it says 100% Taxable and sometimes the good answer is Taxable on amount above the contributions
Which one is the correct answer please!!
what is the tax status of distributions from a defined benefit plan?
Sometimes it says 100% Taxable and sometimes the good answer is Taxable on amount above the contributions
Which one is the correct answer please!!
Hi @Encouraging_ivory_sa - defined benefit plan distributions are always 100% taxable as ordinary income. There shouldn’t be any indication otherwise in our program, but let us know if you encounter something that seems contrary.