JulieS
Expert Alumni

Retirement tax questions

No, you can't defer all the taxes on non-qualified annuity earnings by putting them in an IRA. If you are asking if you can rollover the earnings, you can't do that.

 

You can put the earnings into an IRA, subject to all the usual limitations that are in place for IRA contributions of after tax funds.

 

For 2021 and 2022 you can contribute the lesser of $6000 ($7,000 if you're age 50 or older), or your taxable compensation for the year. Compensation is earned income only.

 

Depending on your income and whether you participate in another retirement plan, the contribution may be deductible. 

 

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