I am newly retired and my financial planner arranged for my monthly interest on my fixed annuities ( two of them through Pac.Life) to come to me toward my retirement money. Is this considered a regular payment since it is interest only? I received a 1099-R for it.
The interest only payments would not be considered part of your contribution to the annuity but would be considered taxable income from the annuity.
You will get a 1099R on the interest payments from the company who holds your annuity because it is coming from your retirement account.
[Edited 2/23/19 | 9:18 pm]
The interest only payments would not be considered part of your contribution to the annuity but would be considered taxable income from the annuity.
You will get a 1099R on the interest payments from the company who holds your annuity because it is coming from your retirement account.
[Edited 2/23/19 | 9:18 pm]