How to correctly account for non qualified annuity basis? Do I include the annuity distribution and all other annuity details in Form 8606
01751
1 Best answer
dmertz
Level 15
Jun 1, 2019 12:35:17 AM
No, nonqualified annuities do not go on Form 8606. Form 8606 is only for IRAs.
Either the Form 1099-R will show the taxable amount in box 2a and the basis in box 5 or you'll need to use use your annuity statements to determine the basis.
1 Replies
dmertz
Level 15
Jun 1, 2019 12:35:17 AM
No, nonqualified annuities do not go on Form 8606. Form 8606 is only for IRAs.
Either the Form 1099-R will show the taxable amount in box 2a and the basis in box 5 or you'll need to use use your annuity statements to determine the basis.