RMDs, inherited annuities, 1035 exchanges, rollovers, and QLAC rules.
If money came out of your annuity last year, your insurer sends you Form 1099-R by January 31 and files a copy with the IRS. Box…
Yes. An annuity can be held inside a 401(k) as an in-plan option, purchased with IRA money as an IRA annuity, or bought after a rollover.…
An RMD calculator divides your retirement account balance from December 31 of last year by a single divisor from the IRS Uniform Lifetime Table, chosen by…
A multi-year guaranteed annuity grows tax deferred. Interest credited inside the contract is not taxed in the year it is earned, so no 1099 arrives annually.…
Your heirs generally owe ordinary income tax on the growth inside an inherited annuity, not on the contributions. There is no step-up in basis. The insurer…
A qualified longevity annuity contract lets you move up to $210,000 of retirement account money out of the balance used to calculate required minimum distributions, for…
An RMD from an inherited IRA is a required annual withdrawal calculated from the IRS Single Life Table, and most non-spouse beneficiaries must also empty the…
You cannot make the tax on an inherited annuity disappear. The gain is ordinary income to the beneficiary and gets no step-up in basis. What you…
The 10-year rule requires most non-spouse beneficiaries to empty an inherited retirement account, including an annuity held inside one, by December 31 of the tenth year…
A surviving spouse who is the sole beneficiary can usually continue an inherited annuity as their own contract, so no payout and no tax are triggered…
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