Sentences with phrase «lump sum distribution after»
The after - tax amount available is in the form of lump sum distribution after the deduction of federal taxes and the original investment amount in a 32 % tax bracket.
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If you decide to take a lump - sum distribution, income taxes are due on the total amount of the distribution (except for any after - tax contributions you've made) and are due in the year in which you cash out.
You can pass your account funds on after you die, and «heirs get to receive this money in annual or lump - sum distributions in the same tax - free way that you would have,» writes financial planner Frances St. Onge at All Things Financial Planning Blog.