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Taxable Annuity Distribution
I have a non qualified Variable Annuity purchase with after Tax money.
The annuity is in the accumulation Phase
I withdraw a partial amount. Form 1099R reported the entire amount as Taxable.
What about the basis, shout it not be prorated?
Taxable amount = Distribution X (1 - Basis/ContractValueBeforeDistribution)
‎February 7, 2022
11:06 AM