- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
Please don't give wrong advice.
A non-qualified annuity bought with a single premium payment in 1981 is grandfathered under the old IRS rules regarding distributions. Prior to 1982, first distributions were treated using the FIFO method and the paid premium portion of the distribution was treated as tax free.
In this case, the General Rule does NOT apply to this non-qualified annuity bought in 1981.
‎February 16, 2020
10:17 AM