Do I owe taxes on distributions from life insurance, annuity, or endowment contracts?

If you invested in an annuity, including a retirement annuity that isn't part of an employer-sponsored retirement program, you may have Pennsylvania taxable income when you begin receiving annuity payments.

If you're required to report an amount from an annuity for federal income tax purposes, you're required to report the amount as interest income for Pennsylvania income tax purposes. Also, if you're required to report an amount from a life insurance and endowment contract for federal income tax purposes, you're required to report the amount as interest income for Pennsylvania income tax purposes.

Deluxe Edition

Includes All Free Features PLUS:

Audit Assist

Protect your taxes with Audit Assist!

Our tax professionals will assist you if you are audited by the IRS. Get the peace of mind that comes from knowing you are covered.

Included with DELUXE...
Find out More!

Free Edition

FREE Federal, FREE e-file

Our online application is designed to be simple and fast. Most returns can be completed within 30 minutes. No software to download. Use any computer that has an internet connection.

© 2002-2015 FreeTaxUSA, a TaxHawk, Inc. owned and operated website - Terms of Use