SECTION 590:10-15-5. Tax treatment of limited benefit

Latest version.

The Board will report the Limited Benefit payments on 1099-Rs for each year in which payments are made. The entire amount of Limited Benefit payments shall be reported as taxable. The Limited Eligible Member's tax basis shall not be affected by these payments.

[Source: Added at 18 Ok Reg 548, eff 12-28-00 through 7-14-01 (emergency); Added at 18 Ok Reg 3258, eff 7-26-01]

                    
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