Common use of Taxation of Distributions Clause in Contracts

Taxation of Distributions. The taxation of XXX distributions depends on whether or not you have ever made nondeductible XXX contributions. If you have only made deductible contributions, all XXX distribution amounts will be included in income. If you have ever made nondeductible contributions to any XXX, the following formula must be used to determine the amount of any XXX distribution excluded from income. (Aggregate Nondeductible Contributions) X (Amount Withdrawn) Aggregate XXX Balance = Amount Excluded From Income NOTE: Aggregate nondeductible contributions include all nondeductible contributions made by you through the end of the year of the distribution that have not previously been withdrawn and excluded from income. Also note that the aggregate XXX balance includes the total balance of all of your Traditional and SIMPLE IRAs as of the end of the year of distribution and any distributions occurring during the year.

Taxation of Distributions. The taxation of XXX distributions depends on whether or not you have ever made nondeductible XXX contributions. If you have only made deductible contributions, all XXX distribution amounts will be included in income. If you have ever made nondeductible contributions to any XXX, the following formula must be used to determine the amount of any XXX distribution excluded from income. (Aggregate Nondeductible Contributions) X x (Amount Withdrawn) Aggregate XXX Balance = Amount Excluded From Income Aggregate XXX Balance NOTE: Aggregate nondeductible contributions include all nondeductible contributions made by you through the end of the year of the distribution that have not previously been withdrawn and excluded from income. Also note that the aggregate XXX balance includes the total balance of all of your Traditional and SIMPLE IRAs as of the end of the year of distribution and any distributions occurring during the year.

Taxation of Distributions. The taxation of XXX distributions depends on whether or not you have ever made nondeductible XXX contributions. If you have only made deductible contributions, all any XXX distribution amounts will be fully included in income. If you have ever made nondeductible contributions to any XXX, the following formula must be used to determine the amount of any XXX distribution excluded from income. (Aggregate Nondeductible Contributions) X x (Amount Withdrawn) = Amount Excluded from Income Aggregate XXX Balance = Amount Excluded From Income NOTE: Aggregate nondeductible contributions include all nondeductible contributions made by you through the end of the year of the distribution that (which have not previously been withdrawn and excluded from income). Also note that the aggregate XXX balance includes the total balance of all of your Traditional and SIMPLE IRAs as of the end of the year of distribution and any distributions occurring during the year.

Taxation of Distributions. The taxation of XXX distributions depends on whether or not you have ever made nondeductible XXX contributions. If you have only made deductible contributions, all XXX distribution amounts distributions will be fully included in income. If you have ever made nondeductible contributions to any XXX, the following formula must be used to determine the amount of any XXX distribution excluded from income. (Aggregate Nondeductible Contributions) X x (Amount Withdrawn) = Amount Excluded from Income Aggregate XXX Balance = Amount Excluded From Income NOTE: Aggregate nondeductible contributions include all nondeductible contributions made by you through the end of the year of the distribution that (which have not previously been withdrawn and excluded from income). Also note that the aggregate XXX balance includes the total balance of all of your Traditional and SIMPLE IRAs as of the end of the year of distribution and any distributions occurring during the year.

Taxation of Distributions. The taxation of XXX distributions depends on whether or not you have ever made nondeductible XXX contributions. If you have only made deductible contributions, all any XXX distribution amounts will be fully included in income. If you have ever made nondeductible contributions to any XXX, the following formula must be used to determine the amount of any XXX distribution excluded from income. : (Aggregate Nondeductible Contributions) X x (Amount Withdrawn) = Amount Excluded ---------------------- Aggregate XXX Balance = Amount Excluded From Income NOTE: Aggregate nondeductible contributions include all nondeductible contributions made by you through the end of the year of the distribution that (which have not previously been withdrawn and excluded from income). Also note that the aggregate XXX balance includes the total balance of all of your Traditional and SIMPLE IRAs as of the end of the year of distribution and any distributions occurring during the year.