annuity payout

Benoit2 — Thu, 22 Feb 2024 15:43:44 GMT

My domicile was in MA till mid-May 2023. I had a fixed non-qualified annuity purchased in June 2020 with no surrendering fees as of June 2023. I took the payout at this time. I received a 2023 1099-R at my new address (outside of MA) for the amount of interest accumulated over the three years.

My questions are the following:

Not being a resident of MA (no domicile, no address) when I received the interest payout, do I report this interest in my new residence state or still in MA or both? If it has to be reported in MA, what about if I had kept that annuity for twenty years and never lived in MA for 19 of those 20 years, does one still has to report the interest payout to MA, because the annuity contract was taken there initially?

Any official documentation references would be appreciated.

Thanks,

Re: annuity payout

MayaD — Mon, 26 Feb 2024 14:45:41 GMT

If you were MA non resident when you received the payments, don't report it on MA return.

You allocate Unearned income to the state you were a resident of when you received it. Unearned income comes from non-employment sources, such as interest, dividends, capital gains, social security, and IRA distributions

topic annuity payout in State tax filing

annuity payout

Re: annuity payout

How do I allocate (split) income for a part-year state return?