Publication 571 - Tax-Sheltered Annuity Plans (403(B) Plans) For Employees Of Public Schools And Certain Tax-Exempt Organizations Page 11
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37Table 3-6. Worksheet C. Includible Compensation for Your Most Recent
Table 3-7. Worksheet A.
Year of Service*
Maximum Exclusion
Allowance (MEA)
Note: Use this worksheet to figure includible compensation for your most recent year of
service.
Note: Use this worksheet to figure your
MEA.
1.
Enter your includible wages from the employer maintaining your 403(b)
35,000
account for your most recent year of service
$
1.
Enter your includible
2,800
2.
Enter elective deferrals for your most recent year of service
$
compensation for your
most recent year of
3.
Enter amounts contributed or deferred by your employer under a cafeteria
37,800.00
service
$
0
plan for your most recent year of service
$
20%
2.
Percentage limit
4.
Enter amounts contributed or deferred by your employer to your 457
0
7,560.00
account for your most recent year of service
$
3.
Multiply line 1 by line 2
$
5.
Enter the value of qualified transportation benefits you received from your
4.
Enter your years of
0
employer
$
service as of the end of
4.5
2001
6.
Enter your foreign earned income exclusion for your most recent year of
0
34,020.00
service
$
5.
Multiply line 3 by line 4
$
37,800
7.
Add lines 1, 2, 3, 4, 5, and 6
$
6.
Enter your amounts
previously excludable
8.
Enter the cost of incidental life insurance that is part of your annuity
(prior years
0
contract for your most recent year of service
$
9,200.00
contributions)
$
9.
Enter compensation that was both:
7.
Subtract line 6 from line
● Earned during your most recent year of service, and
24,820.00
5. This is your MEA
$
0
● Earned while your employer was not qualified to maintain a 403(b) plan
$
10.
If using this worksheet for 2001, enter contributions that are more than
0
your MEA. Otherwise, enter zero (0)
$
0
11.
Add lines 8, 9, and 10
$
12.
Subtract line 11 from line 7. This is your includible compensation for
37,800
your most recent year of service
$
*
Use estimated amounts if figuring includible compensation before the end of the year.
Chapter 3 Maximum Exclusion Allowance (MEA)
Page 11
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