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Category: Delaware

Delaware Tax (on Certain Lump Sum Distributions)

Tax on Certain Lump Sum Distributions (Form 329)

 

FORM 329 applies, in the case of someone who is not self-employed, only when the distribution was made:

-Due to the participant's separation from employment; or

-Due to the participant's death;

-After the participant had attained age 59 1/2

In the case of a self-employed person, this form applies only when the distribution was made:

-After the participant had attained age 59 1/2

-Due to the participant's death;

-The participant was previously disabled.

 

THIS FORM DOES NOT APPLY WHEN YOUR DISTRIBUTION WAS:

-An early distribution including an early distribution received for medical, education or housing exclusions; or

-Rolled over;

-Subject to the early withdrawal penalty on Line 58 of your Federal Form 1040.

 

Use Form 329 to calculate the tax and enter the amount in the state return section "Tax".