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Taxation of Pension and Annuity Income

Exam Questions: 40
Course Level: Basic
Pages: 266 | Content: 238, Supplemental: 28
NASBA Area of Study: Taxes
Not Acceptable for: N/A
Version: 5225S

This course is designed to provide you with a broad overview of how pension and annuity income is taxed. It covers the "General Rule" the "Simplified Method" and qualified and nonqualified plans. The various examples will show how to calculate the tax-free return of your net cost. Lastly, the course covers how U.S. Civil Service Retirement benefits are taxed. All course material provided. No prerequisites. Course level: Basic.

EA Program Approval Number: ZX34G-T-00413-21-S

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Course Information

Table of Contents
  • General Rule for Pensions and Annuities
  • Pension and Annuity Income
  • U. S. Civil Service Retirement Benefits
Objectives
  • To recognize the tax treatment of pension and annuity income under the General Rule
  • To identify the tax treatment of distributions you receive from pension and annuity plans and how to report the income on your federal income tax return
  • To recognize how the federal income tax rules apply to civil service retirement benefits received by retired federal employees or their survivors

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