My annuity had matured so I was told I would not have a penalty.

hacker2023 · ‎March 24, 2024

Why do i owe taxes on a matured annuity

JulieS · ‎March 24, 2024

We'd love to help you complete your tax return, but need more information. Can you please clarify your question?

What code do you have in box 7 of your 1099-R form?

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VolvoGirl · ‎March 24, 2024

Did you take it out? You might not owe a early withdrawal penalty to the annuity plan but it may be taxable and a 10% early withdrawal tax penalty if you were under 59 1/2. What code is in box 7 ? Did you move it to another account like a IRA?

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My annuity had matured so I was told I would not have a penalty.