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1099 R and 1035 exchange on non-qualified annuity
I withdrew the full amount of an annuity issued by Insurance Company X. This annuity was issued by X through a 1035 Exchange of an annuity originally issued by Insurance Company Y. The Form 1099 R I received from the Insurance Company X reports on Section 2a - taxable amount - only the interest accrued on its annuity: basically it does not include the interest accrued on the original annuity that was 1035 exchanged.
The Insurance Premium indicated on Section 5 consists of the original premium paid to Y plus all the accrued interest; the distribution code showed on section 7 is D7.
Is this an error made by Insurance Company X, or is there an additional 1099 R that I am supposed to eventually received separately?
March 7, 2025
12:51 PM