Internal Revenue Service
Revenue Ruling

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 Rev. Rul. 55-61

1955-1 C.B. 40

Sec. 402

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Rev. Rul. 55-61

Although a distribution from an employees' trust meeting the requirements of section 401 of the Internal Revenue Code of 1954 is made in whole or in part from funds received by the trust as interest on tax-free securities, such distribution, when received or made available, is taxable income to the distributee in the manner and to the extent provided by section 402(a) of the Code.