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Ez40Ez40 Publication 939 - Introductory Material Table of Contents What's New Future developments. Ez40 IntroductionSimplified Method. Ez40 Ordering forms and publications. Ez40 Tax questions. Ez40 Useful Items - You may want to see: What's New Beginning in 2013, distributions from an annuity under a nonqualified plan are considered net investment income for the purpose of figuring the net investment income tax (NIIT). Ez40 For more information, see the instructions for Form 8960, Net Investment Income Tax – Individuals, Estates and Trusts. Ez40 Future developments. Ez40 For the latest information about developments related to Publication 939, such as legislation enacted after it was published, go to www. Ez40 IRS. Ez40 gov/pub939. Ez40 Introduction This publication gives you the information you need to determine the tax treatment of your pension and annuity income under the General Rule. Ez40 Generally, each of your monthly annuity payments is made up of two parts: the tax-free part that is a return of your net cost, and the taxable balance. Ez40 What is the General Rule. Ez40 The General Rule is one of the two methods used to figure the tax-free part of each annuity payment based on the ratio of your investment in the contract to the total expected return. Ez40 The other method is the Simplified Method, which is discussed in Publication 575, Pension and Annuity Income. Ez40 Who must use the General Rule. Ez40 Use this publication if you receive pension or annuity payments from: A nonqualified plan (for example, a private annuity, a purchased commercial annuity, or a nonqualified employee plan), A qualified plan if: Your annuity starting date is before November 19, 1996 (and after July 1, 1986), and you do not qualify to use, or did not choose to use, the Simplified Method, or Your annuity starting date is after November 18, 1996, and as of that date you are age 75 or over and the annuity payments are guaranteed for at least 5 years. Ez40 If your annuity starting date was between July 1, 1986 and November 19, 1996, you were able to elect to use the Simplified Method or the General Rule. Ez40 This choice is irrevocable and applied to all later annuity payments. Ez40 The following are qualified plans. Ez40 A qualified employee plan. Ez40 A qualified employee annuity. Ez40 A tax-sheltered annuity (TSA) plan or contract. Ez40 Simplified Method. Ez40 If you receive pension or annuity payments from a qualified plan and you are not required to use the General Rule, you must use the Simplified Method to determine the tax-free part of each annuity payment. Ez40 This method is described in Publication 575, Pension and Annuity Income. Ez40 Also, if, at the time the annuity payments began, you were at least age 75 and were entitled to annuity payments from a qualified plan with fewer than 5 years of guaranteed payments, you must use the Simplified Method. Ez40 Beginning in 2013, distributions from an annuity under a nonqualified plan are considered net investment income for the purpose of figuring the net investment income tax (NIIT). Ez40 For more information, see the instructions for Form 8960, Net Investment Income Tax – Individuals, Estates and Trusts. Ez40 Topics not covered in this publication. Ez40 Certain topics related to pensions and annuities are not covered in this publication. Ez40 They include: Simplified Method. Ez40 This method is covered in Publication 575. Ez40 That publication also covers nonperiodic payments (amounts not received as an annuity) from a qualified pension or annuity plan, rollovers, special averaging and capital gain treatment of lump-sum distributions, and special additional taxes on early distributions, excess distributions, and excess accumulations (not making required minimum distributions). Ez40 Individual retirement arrangements (IRAs). Ez40 Information on the tax treatment of amounts you receive from an IRA is included in Publication 590, Individual Retirement Arrangements (IRAs). Ez40 Life insurance payments. Ez40 If you receive life insurance payments because of the death of the insured person, get Publication 525, Taxable and Nontaxable Income, for information on the tax treatment of the proceeds. Ez40 Help from IRS. Ez40 If, after reading this publication, you need help to figure the taxable part of your pension or annuity, the IRS can do it for you for a fee. Ez40 For information on this service, see Requesting a Ruling on Taxation of Annuity , later. Ez40 Comments and suggestions. Ez40 We welcome your comments about this publication and your suggestions for future editions. Ez40 You can write to us at the following address: Internal Revenue Service Tax Forms and Publications Division 1111 Constitution Ave. Ez40 NW, IR-6526 Washington, DC 20224 We respond to many letters by telephone. Ez40 Therefore, it would be helpful if you would include your daytime phone number, including the area code, in your correspondence. Ez40 You can send your comments from www. Ez40 irs. Ez40 gov/formspubs/. Ez40 Click on “More Information” and then on “Comment on Tax Forms and Publications”. Ez40 Although we cannot respond individually to each comment received, we do appreciate your feedback and will consider your comments as we revise our tax products. Ez40 Ordering forms and publications. Ez40 Visit www. Ez40 irs. Ez40 gov/formspubs/ to download forms and publications, call 1-800-TAX-FORM (1-800-829-3676), or write to the address below and receive a response within 10 days after your request is received. Ez40 Internal Revenue Service 1201 N. Ez40 Mitsubishi Motorway Bloomington, IL 61705-6613 Tax questions. Ez40 If you have a tax question, check the information available on IRS. Ez40 gov or call 1-800-829-1040. Ez40 We cannot answer tax questions sent to either of the above addresses. Ez40 Useful Items - You may want to see: Publication 524 Credit for the Elderly or the Disabled 525 Taxable and Nontaxable Income 571 Tax-Sheltered Annuity Plans (403(b) Plans) 575 Pension and Annuity Income 590 Individual Retirement Arrangements (IRAs) 721 Tax Guide to U. Ez40 S. Ez40 Civil Service Retirement Benefits 910 Guide To Free Tax Services Form (and Instructions) 1099-R Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. Ez40 See How To Get Tax Help near the end of this publication for information about getting these publications and forms. Ez40 Prev Up Next Home More Online Publications
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