topic Annuity in Get your taxes done using TurboTax

Annuity

Beanie1924 — Mon, 27 Jan 2020 17:08:12 GMT

I am 95 and have a non-qualified annuity that I have not yet taken income from. Is there an IRS penalty if I extend the annuity date?

Re: Annuity

Anonymous — Mon, 27 Jan 2020 22:10:20 GMT

why not ask the annuity company as to the tax consequences.

Re: Annuity

MinhT1 — Mon, 27 Jan 2020 22:30:56 GMT

Non-qualified annuities are NOT subject to RMDs (required minimum distributions). There is no IRS penalty for non-withdrawal or for extending the annuity date.