Putting your settlement into an annuity is not the same thing as putting it into an IRA.
You should verify with your financial advisor that your money was not put into an IRA and remove the information that you entered into your tax return with regard to IRA contributions.
Your settlement will still be entered as taxable income reported on Form 1099-MISC, but not entered as an IRA contribution.
Take a look at the following article for some information about the differences between an IRA and an annuity:
IRA vs. Annuity: What's the Difference?
@jetsetter8
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
