Sentences with phrase «contribution allocable»

However, this approach requires filing a gift tax return and, if the contributor dies before the end of the five - year period, the portion of the contribution allocable to the remaining years in the five - year period will be included in the contributor's gross estate for federal estate tax purposes.

Not exact matches

If he over-contributes for the plan year then he will get refunded his contributions that are over the limit plus any allocable earnings and taxed on that amount.

For purposes of this section, employee contributions (and any income allocable thereto) under a defined contribution plan may be treated as a separate contract.