Thanks for your response and appreciate your help. Form 8606 is for a single tax filing year. The annuity is from a private insurance company and the premium was paid by a partial transfer from a Traditional IRA that was funded during a period of 29 years with after-tax dollars.
The form 8606 was completed each tax filing year that I made an after tax contribution to my IRA. I am currently retired and my last after-tax contribution to the IRA was in 2023.
I have documented that 15 percent of the premium was funded by my after-tax dollars. The other 85% percent was based on stock market gains within the IRA. Thus each year that I receive an annuity payment from the insurance company, 15% of it should not be taxed - because I already paid the taxes on that portion.
Unfortunately your answer does not help me, but I appreciate your response. Thanks again.
