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Level 1
posted Jul 26, 2023 9:06:02 AM

Annuity

Any tips on saving taxes on annuity payments?

0 1 377
1 Replies
Employee Tax Expert
Jul 26, 2023 9:19:08 AM

Hello Glspage,

 

Great question on annuities!  Here are some general resource from Turbo Tax that discusses retirement income in general:

Retirement tax strategies 

Retirement Tax Tips 

 

For more detailed information about annuities it would be best to discuss your situation with a financial planner.  Tax impact has to take into account your entire tax situation and not just only the annuity distribution aspect.  I hope this helps and good luck in retirement.