- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Annuity
I am 95 and have a non-qualified annuity that I have not yet taken income from. Is there an IRS penalty if I extend the annuity date?
January 27, 2020
9:08 AM
Anonymous
Not applicable
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
why not ask the annuity company as to the tax consequences.
January 27, 2020
2:10 PM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
Non-qualified annuities are NOT subject to RMDs (required minimum distributions). There is no IRS penalty for non-withdrawal or for extending the annuity date.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
January 27, 2020
2:30 PM