Question

IRS Simplified General Rule

Forum|Forum|6 years ago
February 23, 2020
1 reply
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Where do I input my portion of my monthly tax that is tax free under the general rule. I am not sure I did it right in the past.

ColeenD3

Is this from OPM?

If you receive annuity payments from a nonqualified retirement plan, you must use the General Rule. Under the General Rule, you figure the taxable and tax-free parts of your annuity payments using life expectancy tables that the IRS issues. For a fee, the IRS will figure the tax-free part of your annuity payments for you.

For more information, refer to Publication 939, General Rule for Pensions and Annuities.