- 1 -
|
2016 FORM329 Page 1
Delaware Special Tax Computation for Lump Sum
Distribution from Qualified Retirement Plan
LumpSumDistributions
Thisformapplies, inthecaseofsomeonewhoisnotself-employed,only whenthe distributionwasmade:
-Duetothe participant'sdeath;
-Dueto theparticipant'sseparationfromemployment;or
-Aftertheparticipanthadattainedage591/2
In thecaseofaself-employedperson,thisformappliesonlywhenthedistributionwasmade:
-Duetothe participant'sdeath;
-After the participanthadattainedage 591/2
-Theparticipantwas previouslydisabled.
THIS FORMDOESNOTAPPLYWHENYOUR DISTRIBUTIONWAS:
-Rolled over;
-Anearlydistributionincludinganearlydistributionreceivedformedical,educationorhousingexclusions;or
-Subjectto the earlywithdrawal penaltyon Line58ofyourFederalForm1040.
LASTNAME(S) AS SHOWNONRETURN YOURFIRSTNAME YOURSOCIALSECURITYNUMBER
SPOUSE'SLASTNAME(IFAPPLICABLE) SPOUSE'SFIRSTNAME(IFAPPLICABLE) SPOUSE'SSOCIALSECURITYNUMBER(IFAPPLICABLE)
1. EntercapitalgainportionofdistributionfromBox3 ofForm1099R............................... 1.
2. Enterordinaryincomeportion ofdistributionfromBox 2aofForm1099R...................... 2.
3. AddLines 1and2............................................................................................................ 3.
4. Death benefit exclusion allowed onFederalForm 4972.................................................. 4.
5. SubtractLine4fromLine 3.............................................................................................. 5.
6. Current actuarialvalue ofannuity (ifapplicable,see Federalinstructions)..................... 6.
7. Totaltaxableamountofdistribution. AddLines5and6................................................. 7.
8. Enter10%ofLine7(MultiplyLine7by .10).................................................................... 8.
9. Computethetax on Line8(useTax RateScheduleorTableforForm200).................. 9.
10. Multiplythe amounton Line 9 byten............................................................................... 10.
11. Enter10%ofLine6(MultiplyLine6by .10).................................................................... 11.
12. Computethetax on Line11(useTaxRateScheduleorTableforForm 200)................ 12.
13. Multiplythe amounton Line 12 byten............................................................................. 13.
14. SubtractLine13fromLine10.......................................................................................... 14.
15. DivideLine2byLine3andenterresultasadecimal(roundedtoatleasttwoplaces).. 15.
16. Taxonordinaryincomeportion ofdistribution(MultiplyLine 14 bydecimalonLine15
andenteronForm 200-01, Line 7,orForm400, Line9)................................................ 16.
ATTACHFORM329ANDFORM 4972TO FORM 200 OR FORM 400
*DF30316019999*
(Rev. 09/2016) DF30316019999
|