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Level 1
June 5, 2019
Solved

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

  • June 5, 2019
  • 1 reply
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The code in box 7 is 6
Best answer by DanielV01

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

1 reply

DanielV01
DanielV01Answer
Level 15
June 5, 2019

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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