2.26 Ark. Code R. 51-414
Current through Register Vol. 49, No. 10, October, 2024
Lump-sum distributions from qualified retirement plans will no longer be eligible for special 5 year income averaging beginning with the 2000 tax year. Except for older taxpayers eligible for the 1986 Tax Reform Act transition rules (i.e., 10 year averaging and capital gains treatment for the pre-1974 portion of the distribution), distributions from qualified plans will be taxed in the same manner as other income, regardless of the form of distribution. IRC Sec. 402(e)(4)(D).
2.26 Ark. Code R. 51-414