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Are distributions from my individual retirement account (IRA) or annuities included in my gross household income computation for tax relief purposes?

April 26, 2017annuities computation distributions gross household included income individual retirement account IRA tax

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Are distributions from my individual retirement account (IRA) or annuities included in my gross household income computation for tax relief purposes?

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Yes. Numerous Virginia Attorneys General opinions have concluded that distributions from IRA’s and annuities are income for tax relief purposes, even if a portion or all of the distribution is a return of the taxpayer’s contribution or investment.