My annuity had matured so I was told I would not have a penalty.
Why do i owe taxes on a matured annuity
02618
2 Replies
JulieS
Expert Alumni
Mar 24, 2024 7:19:14 AM
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?
VolvoGirl
Level 15
Mar 24, 2024 11:21:42 AM
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?