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New Member
posted Feb 15, 2025 5:23:38 AM

Non Qualified Annuity

I purchased a non qualified annuity this year and didn’t take any distributions from it.   I received a statement showing my growth but didn’t receive a 1099 if any type.  Do I still need to report that income on my tax return even though I didn’t get money?  If yes, where do I include it?  My income is below the threshold I believe as well so do I need to file it at all? 

Thank you

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1 Replies
Expert Alumni
Feb 22, 2025 11:37:24 AM

If you did not take any distributions and the non-qualified annuity has not matured, then there is nothing to report on your tax return.  

 

The earnings will grow tax-deferred until the contract matures.  Then, when you start receiving payments you will report and pay taxes on the earnings.

 

For your confirmation, here is a link to the 2024 filing requirements to help you determine whether or not you even need to file a return:

 

Do I need to file a federal return this year?