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rsavage
New Member

I cashed in an annuity in 2017 and rolled the entire amount into another annuity. Will there be any tax incurred?

The code in box 7 is 6
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DanielV01
Expert Alumni

I cashed in an annuity in 2017 and rolled the entire amount into another annuity. Will there be any tax incurred?

No, it's not taxes.  That specific code indicates a tax-free exchange (essentially a roll-over).  Your box 2a amount should be a zero as well.  Please see this FAQ with more information on box 7 codes:  https://ttlc.intuit.com/replies/4194736

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1 Reply
DanielV01
Expert Alumni

I cashed in an annuity in 2017 and rolled the entire amount into another annuity. Will there be any tax incurred?

No, it's not taxes.  That specific code indicates a tax-free exchange (essentially a roll-over).  Your box 2a amount should be a zero as well.  Please see this FAQ with more information on box 7 codes:  https://ttlc.intuit.com/replies/4194736

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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