- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Non qualified annuity principal showing as gross income
Invested $200000 non qualified funds in an annuity. On the 1099-R the entire amount plus interest is showing in box one as gross distribution. Even though the IRS is only going to tax the interest, they include the entire amount as gross income. Social Security raises my medicare premium (IRMAA) based on income. The $200000 is not income, I already paid tax on it. How do I correct this?
‎January 30, 2024
8:30 AM