Yes it is. On the 1099-R it shows the separation from the basis and the rest is the interest and dividends that they say are taxable. The thing is, is that we've received a 1098, 1099, & 5498 combined statement for the interest and dividends earned over the years, and we've added those amounts to our taxable income every year. Doesn't that make that amount doubly taxed for the next five years that we are collecting that annuity? Should we not have added the accrued interest and dividends on our taxes over the years and now we are S O L (so out of luck) and still have to add it as taxable income?
