Non Qualified Annuity

Kjs34748 — Sat, 15 Feb 2025 13:23:38 GMT

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

Re: Non Qualified Annuity

AnnetteB6 — Sat, 22 Feb 2025 19:37:24 GMT

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?

topic Re: Non Qualified Annuity in Retirement tax questions

Non Qualified Annuity

Re: Non Qualified Annuity