Hello, I am planning for 2020 tax year and I have a question about annuity.
I bought an 5-year term annuity and it will be matured in June 2020. This is not an IRA but I bought it with my personal saving account. I planned to renew this annuity to another 5 years term with the original fund and those interest from the previous 5 year earning.
I like to know, since I renew this annuity with the full fund (original $$ and earned interest $$), Do I need to pay tax on those earning $$ that I reinvest to the next 5 years term?
Thank you
