Publication 721 - Tax Guide To U.s. Civil Service Retirement Benefits - 2002 Page 27
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28Worksheet B. Lump-Sum Payment
Keep for Your Records
See the instructions in Part II of this publication under Alternative Annuity Option.
1. Enter your lump-sum credit (your cost in the plan at the annuity starting date) . . . . . . . . . 1.
2. Enter the present value of your annuity contract . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.
3. Divide line 1 by line 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.
4. Tax-free amount. Multiply line 1 by line 3. (Caution: Do not include this amount on line 6
of Worksheet A in this publication.) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.
5. Taxable amount (net cost in the plan). Subtract line 4 from line 1. Include this amount
in the total on line 16b of Form 1040 or line 12b of Form 1040A. Also, enter this amount
on line 2 of Worksheet A in this publication. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.
Page 27
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