7.28 Employee’s Cost in Annuity

For purposes of figuring the tax-free recovery of your investment under the general rules (7.23) or the simplified method (7.27), include the following items paid as of the annuity starting date as your cost in an employee annuity:

  • Premiums paid by you or by after-tax withholdings from your pay.
  • Payments made by your employer and reported as additional pay.

Reduce the total by any refunded premiums that you received by the annuity starting date, or, if later, the date of your first payment.

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