mmk25
Returning Member

Annuity

in December 2022, my husband took a gross distribution of $74,779.85 and then in late January 2023 he opened an annuity with the entire amount.   It looks like we are payting taxes on the amount in 2022 because I have nothing to off set the amount yet.   So is that correct, we pay taxes in 2022 on this amount?   what happens in 2023?