BBB thanks for your reply!
Need to clarify and ask a few more questions if you don't mind.
Are you under the age of 59.5?
Did you Elect Option 4 (Conversion) ?
Pay Catch up premiums?
Re-valuate your policies?
Submit Fair Market Valuation Form?
Submit Distribution Request at the new valuation amount?
Change ownership to Magna Servicing?
Pay taxes on the distributed amount for 2018 tax filing?
I'm in the same situation. 2 Maturities; 1 paid in October 2018 and the other January 2019. I have no idea how to file on tax return.
Can you kindly explain how to determine the negative number? I assume it's a combination of the following:
- Amount paid for policy
- Amount paid at maturity
- Premiums paid
What am I missing? Can you elaborate on description field where you noted cost of asset payer ID#. Is that policy number?
You mentioned this year you will produce a Sub 1099-R. What would that entail?
Sorry so many questions I would have thought more people would have chimed in given the vast amount of investors.
Is there another way to communicate more personally?
Thanks for all your input!
