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Deductions & credits
The industry consensus is that the IRA annuity payout is considered to be the RMD for the IRA annuity and all RMD. But yes, they way that the calculate the payout and the way that calculate the FMV may be different.
Since they have provided a FMV of the annuity, yes, you need to include that amount on line 6 of Form 8606. My previous reply assumed that they had provided no FMV. It IRS has recently added to Form 5498 boxes 15a and 15b to indicate the value of certain types of IRA investments and code G in box 15b can be used to indicate an asset that does not have a readily available FMV, which might include an annuity.
‎February 26, 2021
8:46 AM