Taxation of Xxxx XXX Distributions. The taxation of Xxxx XXX distributions depends on whether the distribution is a qualified distribution or a nonqualified distribution.
Taxation of Xxxx XXX Distributions. Any distribution, or portion of any distribution, which consists of the return of contributions you made to your Xxxx XXX is not subject to federal income tax. For federal income tax purposes, contributions are presumed to be withdrawn first, then conversion contributions, then earnings.
Taxation of Xxxx XXX Distributions. A distribution from a Xxxx XXX which consists of the return of your contributions is not subject to federal income tax. Xxxx XXX distributions that include earnings may be subject to federal income tax if the distribution is not a qualified distribution. General information on Xxxx XXX distributions is provided below, you may wish to review IRS Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs), from the IRS or refer to the IRS website at xxx.xxx.xxx. Our customer service representatives are not able to provide tax advice, if you have questions about whether a distribution includes any amount subject to federal income please speak with a qualified tax professional.
Taxation of Xxxx XXX Distributions. A distribution from a Xxxx XXX which consists of the return of your contributions is not subject to federal income tax. Xxxx XXX distributions that include earnings may be subject to federal income tax if the distribution is not a qualified distribution. General information on Xxxx XXX distributions is provided below, you may
