Annuity

[1clh]

In 2015 We rolled a rather small Roth into an annuity that we were told is a Roth. Due to under performing I want to cash out and reinvest in CD's or something similar for better interest. We are in our 70's and retired. What would the tax implications be?

[Mike9241]

A Roth IRA annuity is a type of annuity that is funded with Roth IRA contributions. The money in the account has already been taxed, so there are no taxes owed on withdrawals made.

[1clh]

Thank you. That was the way I understood the rules but never hurts to check.