Common use of INCOME TAX CONSEQUENCES OF ESTABLISHING AN XXX Clause in Contracts

INCOME TAX CONSEQUENCES OF ESTABLISHING AN XXX. X. Traditional IRA Deductibility – If you are eligible to contribute to your Traditional IRA, the amount of the contribution for which you may take a tax deduction will depend upon whether you (or, in some cases, your spouse) are an active participant in an employer-sponsored retirement plan. If you (and your spouse if married) are not an active participant, your entire Traditional IRA contribution will be deductible. If you are an active participant (or are married to an active participant), the deductibility of your contribution will depend on your MAGI and your tax filing status for the tax year for which the contribution was made. MAGI is determined on your income tax return using your adjusted gross income but disregarding any deductible Traditional IRA contribution and certain other deductions and exclusions. Definition of Active Participant – Generally, you will be an active participant if you are covered by one or more of the following employer-maintained retirement plans.

INCOME TAX CONSEQUENCES OF ESTABLISHING AN XXX. X. Traditional IRA Deductibility – If you are eligible to contribute to your Traditional IRA, the amount of the contribution for which you may take a tax deduction will depend upon whether you (or, in some cases, your spouse) are an active participant in an employer-sponsored retirement plan. If you (and your spouse spouse, if married) are not an active participant, your entire Traditional IRA contribution will be deductible. If you are an active participant (or are married to an active participant), the deductibility of your IRA contribution will depend on your MAGI modified adjusted gross income (MAGI) and your tax filing status for the tax year for which the contribution was made. MAGI is determined on your income tax return using your adjusted gross income but disregarding any deductible Traditional IRA contribution and certain other deductions and exclusions. Definition of Active Participant – Participant. Generally, you will be an active participant if you are covered by one or more of the following employer-maintained sponsored retirement plans.

INCOME TAX CONSEQUENCES OF ESTABLISHING AN XXX. X. Traditional IRA Deductibility – If you are eligible to contribute to your Traditional IRA, the amount of the contribution for which you may take a tax deduction will depend upon whether you (or, in some cases, your spouse) are an active participant in an employer-sponsored retirement plan. If you (and your spouse spouse, if married) are not an active participant, your entire Traditional IRA contribution will be deductiblededuct- ible. If you are an active participant (or are married to an active participant), the deductibility of your IRA contribution will depend on your MAGI modified adjusted gross income (MAGI) and your tax filing status for the tax year for which the contribution was made. MAGI is determined on your income tax return using your adjusted gross income but disregarding any deductible Traditional IRA contribution and certain other deductions and exclusions. Definition of Active Participant – Participant. Generally, you will be an active participant if you are covered by one or more of the following fol- lowing employer-maintained sponsored retirement plans.

INCOME TAX CONSEQUENCES OF ESTABLISHING AN XXX. X. Traditional IRA Deductibility CONTRIBUTION DEDUCTIBILITY FOR TRADITIONAL IRAs – If you are eligible to contribute to your Traditional IRAXXX, the amount of the contribution for which you may take a tax deduction will depend upon whether you (or, in some cases, your spouse) are an active participant in an employer-sponsored maintained retirement plan. If you (and your spouse if married) are not an active participant, your entire Traditional IRA XXX contribution will be deductible. If you are an active participant (or are married to an active participant), the deductibility of your contribution will depend on your MAGI and your tax filing status for the tax year for which the contribution was made. MAGI is determined on your income tax return using your adjusted gross income but disregarding any deductible Traditional IRA contribution and certain other deductions and exclusionsXXX contribution. Definition of Active Participant – Generally, you will be an active participant if you are covered by one or more of the following employer-maintained retirement plans.:

INCOME TAX CONSEQUENCES OF ESTABLISHING AN XXX. X. Traditional IRA Deductibility – If you are eligible to contribute to your Traditional IRA, the amount of the contribution for which you may take a tax deduction will depend upon whether you (or, in some cases, your spouse) are an active participant in an employer-sponsored retirement retire- ment plan. If you (and your spouse spouse, if married) are not an active participant, your entire Traditional IRA contribution will be deductible. If you are an active participant (or are married to an active participant), the deductibility of your IRA contribution will depend on your MAGI modified adjusted gross income (MAGI) and your tax filing status for the tax year for which the contribution was made. MAGI is determined on your income tax return using your adjusted gross income but disregarding any deductible Traditional IRA contribution and certain other deductions and exclusions. Definition of Active Participant – Participant. Generally, you will be an active participant if you are covered by one or more of the following employer-maintained sponsored retirement plans.

INCOME TAX CONSEQUENCES OF ESTABLISHING AN XXX. X. Traditional IRA XXX Deductibility – If you are eligible to contribute to your Traditional IRAXXX, the amount of the contribution for which you may take a tax deduction will depend upon whether you (or, in some cases, your spouse) are an active participant in an employer-sponsored retirement plan. If you (and your spouse if married) are not an active participant, your entire Traditional IRA XXX contribution will be deductible. If you are an active participant (or are married to an active participant), the deductibility of your contribution will depend on your MAGI and your tax filing status for the tax year for which the contribution was made. MAGI is determined on your income tax return using your adjusted gross income but disregarding any deductible Traditional IRA XXX contribution and certain other deductions and exclusions. Definition of Active Participant – Generally, you will be an active participant if you are covered by one or more of the following employer-maintained retirement plans.