Special Tax Notice - The Vargo Company
TAXATION OF IRA AND TSA RMDS. Distributions are treated as ordinary income for the tax year the funds are received and are taxed at the policyowner's personal income tax level. Distributions are subject to federal income tax withholding. If the policyowner does not elect out of withholding, NYLIAC is required to withhold 10% of the taxable ... ................
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