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

INCOME TAX CONSEQUENCES OF ESTABLISHING AN XXX. X. XXX Deductibility – If you are eligible to contribute to your XXX, 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 XXX contribution will be deductible. If you are an active participant (or are married to an active participant), the deductibility of your XXX contribution will depend on your 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 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-sponsored retirement plans.

INCOME TAX CONSEQUENCES OF ESTABLISHING AN XXX. X. XXX Deductibility – If you are eligible to contribute to your XXX, 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 employer‐sponsored retirement plan. If you (and your spouse, if married) are not an active participant, your entire XXX contribution will be deductible. If you are an active participant (or are married to an active participant), the deductibility of your XXX contribution will depend on your 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 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-sponsored employer‐sponsored retirement plans.

INCOME TAX CONSEQUENCES OF ESTABLISHING AN XXX. X. XXX IRA Deductibility – If you are eligible to contribute to your XXXIRA, 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 employer‐sponsored retirement plan. If you (and your spouse, if married) are not an active participant, your entire XXX IRA contribution will be deductible. If you are an active participant (or are married to an active participant), the deductibility of your XXX IRA contribution will depend on your 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 XXX 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-sponsored employer‐sponsored retirement plans.

INCOME TAX CONSEQUENCES OF ESTABLISHING AN XXX. X. XXX Deductibility DEDUCTIBILITY – If you are eligible to contribute to your XXX, 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 XXX contribution will be deductible. If you are an active participant (or are married to an active participant), the deductibility of your XXX contribution will depend on your 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 XXX 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-employer- sponsored retirement plans.:

INCOME TAX CONSEQUENCES OF ESTABLISHING AN XXX. X. XXX Deductibility IRA DEDUCTIBILITY – If you are eligible to contribute to your XXXIRA, 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 XXX IRA contribution will be deductible. If you are an active participant (or are married to an active participant), the deductibility of your XXX contribution will depend on your 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 XXX contribution and certain other deductions and exclusionsIRA contribution. Definition of Active Participant. Participant – Generally, you will be an active participant if you are covered by one or more of the following employer-sponsored maintained retirement plans.:

INCOME TAX CONSEQUENCES OF ESTABLISHING AN XXX. X. XXX IRA Deductibility – If you are eligible to contribute to your XXXIRA, 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 XXX IRA contribution will be deductible. If you are an active participant (or are married to an active participant), the deductibility of your XXX IRA contribution will depend on your 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 XXX 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-sponsored retirement plans.plans.‌

INCOME TAX CONSEQUENCES OF ESTABLISHING AN XXX. X. XXX Deductibility CONTRIBUTION DEDUCTIBILITY FOR TRADITIONAL IRAs – If you are eligible to contribute to your XXXTraditional 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 maintained retirement plan. If you (and your spouse, spouse if married) are not an active participant, your entire XXX Traditional IRA contribution will be deductible. If you are an active participant (or are married to an active participant), the deductibility of your XXX contribution will depend on your modified adjusted gross income (MAGI) 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 XXX contribution and certain other deductions and exclusionsTraditional IRA contribution. Definition of Active Participant. Participant – Generally, you will be an active participant if you are covered by one or more of the following employer-sponsored maintained retirement plans.:

INCOME TAX CONSEQUENCES OF ESTABLISHING AN XXX. X. XXX IRA Deductibility – If you are eligible to contribute to your XXXIRA, 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 XXX IRA contribution will be deductible. If you are an active participant (or are married to an active participant), the deductibility of your XXX IRA contribution will depend on your 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 in- come tax return using your adjusted gross income but disregarding any deductible XXX 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-sponsored retirement plans.

INCOME TAX CONSEQUENCES OF ESTABLISHING AN XXX. X. XXX IRA Deductibility – If you are eligible to contribute to your XXXIRA, 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 XXX IRA contribution will be deductible. If you are an active participant (or are married to an active participant), the deductibility of your XXX IRA contribution will depend on your 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 XXX 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-sponsored retirement plans.:

INCOME TAX CONSEQUENCES OF ESTABLISHING AN XXX. X. XXX IRA Deductibility – - If you are eligible to contribute to your XXXIRA, 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 XXX IRA contribution will be deductible. If you are an active participant (or are married to an active participant), the deductibility of your XXX IRA contribution will depend on your 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 XXX 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-sponsored retirement plans.

INCOME TAX CONSEQUENCES OF ESTABLISHING AN XXX. X. XXX IRA Deductibility – If you are eligible to contribute to your XXXIRA, 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-employer sponsored retirement plan. If you (and your spouse, if married) are not an active participant, your entire XXX IRA contribution will be deductible. If you are an active participant (or are married to an active participant), the deductibility of your XXX IRA contribution will depend on your 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 XXX 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-employer- sponsored retirement plans.

INCOME TAX CONSEQUENCES OF ESTABLISHING AN XXX. X. XXX Deductibility DEDUCTIBILITY – If you are eligible to contribute to your XXX, 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 XXX contribution will be deductible. If you are an active participant (or are married to an active participant), the deductibility of your XXX contribution will depend on your 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 XXX 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-employer- sponsored retirement plans.:

INCOME TAX CONSEQUENCES OF ESTABLISHING AN XXX. X. XXX Deductibility DEDUCTIBILITY – If you are eligible to contribute to your XXX, 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 employer-­‐maintained retirement plan. If you (and your spouse, if married) are not an active participant, your entire XXX contribution will be deductible. If you are an active participant (or are married to an active participant), the deductibility of your XXX contribution will depend on your 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 XXX contribution and certain other deductions and exclusionscontribution. Definition of Active Participant. Participant – Generally, you will be an active participant if you are covered by one or more of the following employer-sponsored employer-­‐maintained retirement plans.: