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<blockquote data-quote="1989" data-source="post: 574959" data-attributes="member: 10280"><p>You are missing part of the tax code:</p><p> </p><p>If you receive pension or annuity payments before age 59 1/2, you may be subject to an additional 10% tax on early distributions. However, <strong>this additional tax will not apply if</strong> the payments are made after your separation from service in or after the year you reached age 55, or <strong>if the payments are part of a series of substantially equal payments that are paid over your life.</strong> For other exceptions to the tax, refer to <a href="http://www.irs.gov/publications/p575/index.html" target="_blank"><u><span style="color: #661c80">Publication 575</span></u></a>, <em><em>Pension and Annuity Income</em></em></p></blockquote><p></p>
[QUOTE="1989, post: 574959, member: 10280"] You are missing part of the tax code: If you receive pension or annuity payments before age 59 1/2, you may be subject to an additional 10% tax on early distributions. However, [B]this additional tax will not apply if[/B] the payments are made after your separation from service in or after the year you reached age 55, or [B]if the payments are part of a series of substantially equal payments that are paid over your life.[/B] For other exceptions to the tax, refer to [URL="http://www.irs.gov/publications/p575/index.html"][U][COLOR=#661c80]Publication 575[/COLOR][/U][/URL], [I][I]Pension and Annuity Income[/I][/I] [/QUOTE]
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