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11 June, 02:28

Which of the following statements regarding a tax sheltered annuity (tsa) is incorrect? the income from the tsa is received income tax-free the amount contributed is deductible from taxable income the interest earnings are tax deferred a tax-sheltered annuity is available to employees of non-profit organizations?

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  1. 11 June, 02:51
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    The incorrect statement is : The income from the TSA is received income tax-free. Upon retirement, payments received by employees from the accumulated savings in tax-sheltered annuities are treated as ordinary income.
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