Common use of Traditional IRA-to-Xxxx XXX Conversions Clause in Contracts

Traditional IRA-to-Xxxx XXX Conversions. If you convert to a Xxxx XXX, the amount of the conversion from your Traditional IRA to your Xxxx XXX will be treated as a distribution for income tax purposes, and is includible in your gross income (except for any nondeductible contributions). Although the conversion amount generally is included in income, the 10 percent early distribution penalty tax will not apply to conversions from a Traditional IRA to a Xxxx XXX, regardless of whether you qualify for any exceptions to the 10 percent penalty tax. If you are required to take a required minimum distribution for the year, you must remove your required minimum distribution before converting your Traditional IRA.

Traditional IRA-to-Xxxx XXX Conversions. If you convert to a Xxxx XXX, the amount of the conversion from your Traditional IRA to your Xxxx XXX will be treated as a distribution for income tax purposes, and is includible in your gross income (except for any nondeductible contributions). Although the conversion amount generally is included in income, the 10 percent early distribution penalty tax will not apply to conversions from a Traditional IRA to a Xxxx XXX, regardless of whether you qualify for any exceptions to the 10 percent early distribution penalty tax. If you are required to take a required minimum distribution for the year, you must remove your required minimum distribution before converting your Traditional IRA.

Traditional IRA-to-Xxxx XXX Conversions. If you convert to a Xxxx XXX, the amount of the conversion from your Traditional traditional IRA to your Xxxx XXX will be treated as a distribution for income tax purposes, purposes and is includible in your gross income (except for any nondeductible contributions). Although the conversion amount generally is included in income, the 10 percent 10% early distribution penalty tax will not apply to conversions from a Traditional traditional IRA to a Xxxx XXX, regardless of whether you qualify for any exceptions to the 10 percent 10% early distribution penalty tax. If you are required to take a required minimum distribution for the year, you must remove take your required minimum distribution before converting your Traditional traditional IRA.

Traditional IRA-to-Xxxx XXX Conversions. If you convert to a Xxxx XXX, the amount of the conversion from your Traditional IRA to your Xxxx XXX will be treated as a distribution for income tax purposes, and is includible in your gross income (except for any nondeductible contributions). Although the conversion amount generally is included in income, the 10 percent early distribution penalty tax will not apply to conversions from a Traditional Tra- ditional IRA to a Xxxx XXX, regardless of whether you qualify for any exceptions to the 10 percent early distribution penalty tax. If you are required to take a required minimum distribution for the year, you must remove your required minimum distribution before converting your Traditional IRA.

Traditional IRA-to-Xxxx XXX Conversions. If you convert to a Xxxx XXX, the amount of the conversion from your Traditional IRA to your Xxxx XXX will be treated as a distribution for income tax purposes, purposes and is includible in your gross income (except for any nondeductible contributions). Although the conversion amount generally is included in income, the 10 percent early distribution penalty tax will not apply to conversions from a Traditional IRA to a Xxxx XXX, regardless of whether you qualify for any exceptions to the 10 percent penalty tax. If you are required to take a required minimum distribution for the year, you must remove your required minimum distribution before converting your Traditional IRA.

Traditional IRA-to-Xxxx XXX Conversions. If you convert to a Xxxx XXX, the amount of the conversion from your Traditional traditional IRA to your Xxxx XXX will be treated as a distribution for income tax purposes, purposes and is includible in your gross income (except for any nondeductible contributions). Although Althoug h the conversion amount generally is included in income, the 10 percent 10% early distribution penalty tax will not apply to conversions from a Traditional traditional IRA to a Xxxx XXX, regardless of whether you qualify for any exceptions to the 10 percent 10% early distribution penalty tax. If you are required to take a required minimum distribution for the year, you must remove take your required minimum distribution before converting your Traditional traditional IRA.

Traditional IRA-to-Xxxx XXX Conversions. If you convert to a Xxxx XXX, the amount of the conversion from your Traditional IRA to your Xxxx XXX will be treated as a distribution for income tax purposes, and is includible in your gross income (except for any nondeductible contributions). Although the conversion amount generally is included in income, the 10 percent early distribution penalty tax will not apply to conversions from a Traditional IRA to a Xxxx XXX, regardless of whether you qualify for any exceptions to the 10 percent penalty tax. If you are required to take a required minimum distribution for the year, you must remove your required minimum distribution before converting your Traditional IRA.

Traditional IRA-to-Xxxx XXX Conversions. If you convert to a Xxxx XXX, the amount of the conversion from your Traditional IRA to your Xxxx XXX will be treated as a distribution for income tax purposes, and is includible in your gross income (except for any nondeductible nondeduct- ible contributions). Although the conversion amount generally is included in income, the 10 percent early distribution penalty tax will not apply to conversions from a Traditional IRA to a Xxxx XXX, regardless of whether you qualify for any exceptions to the 10 percent early distribution penalty tax. If you are required to take a required minimum distribution for the year, you must remove your required minimum distribution before converting your Traditional IRA.